Slide Insurance (NASDAQ:SLDE) CEO Sells $1,820,323.04 in Stock
by Sarita Garza · The Markets DailySlide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) CEO Bruce Lucas sold 98,716 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $18.44, for a total value of $1,820,323.04. Following the sale, the chief executive officer owned 38,895,317 shares in the company, valued at $717,229,645.48. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Bruce Lucas also recently made the following trade(s):
- On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.13, for a total value of $4,124,575.00.
- On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The stock was sold at an average price of $17.42, for a total value of $47,556.60.
- On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $2,156,609.00.
- On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.
- On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total transaction of $3,344,114.28.
Slide Insurance Stock Down 2.7%
SLDE traded down $0.49 during trading on Wednesday, reaching $17.75. 2,532,975 shares of the stock were exchanged, compared to its average volume of 2,236,213. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50 day moving average price is $17.38 and its two-hundred day moving average price is $16.63. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The stock has a market cap of $2.21 billion and a P/E ratio of 6.88.
Slide Insurance (NASDAQ:SLDE – Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Barclays increased their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Piper Sandler lifted their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.40.
Get Our Latest Stock Analysis on SLDE
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Comerica Bank raised its position in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after buying an additional 1,281 shares in the last quarter. CWM LLC bought a new position in Slide Insurance during the 4th quarter worth $35,000. Ameritas Investment Partners Inc. bought a new position in Slide Insurance during the 3rd quarter worth $35,000. Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance in the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Slide Insurance by 4,839.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after acquiring an additional 2,468 shares during the period.
About Slide Insurance
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.