FourThought Financial Partners LLC Invests $5.89 Million in Slide Insurance Holdings, Inc. $SLDE

by · The Cerbat Gem

FourThought Financial Partners LLC bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 302,506 shares of the company’s stock, valued at approximately $5,893,000. FourThought Financial Partners LLC owned 0.24% of Slide Insurance as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Great Lakes Advisors LLC purchased a new stake in shares of Slide Insurance during the 3rd quarter worth about $3,113,000. Fifth Third Bancorp lifted its position in Slide Insurance by 529,826.4% during the 4th quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after acquiring an additional 381,475 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in Slide Insurance during the 4th quarter worth approximately $2,235,000. Federated Hermes Inc. acquired a new position in Slide Insurance during the 3rd quarter worth approximately $9,471,000. Finally, Quantbot Technologies LP acquired a new position in Slide Insurance during the 3rd quarter worth approximately $871,000.

Insider Transactions at Slide Insurance

In related news, Director Andrew Pardo Wright sold 10,086 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.00, for a total transaction of $191,634.00. Following the sale, the director directly owned 80,000 shares of the company’s stock, valued at approximately $1,520,000. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bruce Lucas sold 273,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $18.97, for a total value of $5,178,810.00. Following the sale, the chief executive officer directly owned 35,156,165 shares in the company, valued at approximately $666,912,450.05. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,329,837 shares of company stock valued at $99,058,522. 50.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Piper Sandler boosted their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods upped their target price on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.80.

View Our Latest Report on SLDE

Slide Insurance Stock Performance

SLDE stock opened at $18.68 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.14 billion and a P/E ratio of 5.19. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The stock’s 50 day simple moving average is $18.21 and its 200 day simple moving average is $17.70.

Slide Insurance (NASDAQ:SLDE – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. The business had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. As a group, equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

Slide Insurance declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Slide Insurance

(Free Report)

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.

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