Slide Insurance (NASDAQ:SLDE) COO Sells $79,762.08 in Stock

by · The Markets Daily

Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) COO Shannon Lucas sold 4,659 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $17.12, for a total transaction of $79,762.08. Following the sale, the chief operating officer directly owned 1,118,756 shares in the company, valued at $19,153,102.72. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shannon Lucas also recently made the following trade(s):

  • On Wednesday, June 10th, Shannon Lucas sold 19,058 shares of Slide Insurance stock. The shares were sold at an average price of $17.03, for a total transaction of $324,557.74.
  • On Wednesday, May 27th, Shannon Lucas sold 22,548 shares of Slide Insurance stock. The shares were sold at an average price of $18.95, for a total transaction of $427,284.60.
  • On Wednesday, May 20th, Shannon Lucas sold 18,279 shares of Slide Insurance stock. The shares were sold at an average price of $18.78, for a total transaction of $343,279.62.
  • On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.97, for a total transaction of $512,190.00.
  • On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.06, for a total transaction of $857,700.00.
  • On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The shares were sold at an average price of $18.84, for a total transaction of $502,877.28.
  • On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total transaction of $168,840.00.
  • On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total transaction of $322,422.21.
  • On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The shares were sold at an average price of $18.88, for a total transaction of $125,495.36.
  • On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total transaction of $158,606.50.

Slide Insurance Stock Performance

NASDAQ:SLDE traded down $0.24 during mid-day trading on Friday, hitting $16.70. The company’s stock had a trading volume of 582,241 shares, compared to its average volume of 1,569,967. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $1.91 billion and a price-to-earnings ratio of 4.64. The business’s fifty day moving average is $18.19 and its two-hundred day moving average is $17.83.

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

Slide Insurance announced that its board has initiated a stock repurchase program on Tuesday, April 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of 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 purchasing an additional 381,475 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new position in shares of Slide Insurance during the 4th quarter worth about $2,235,000. Quantbot Technologies LP acquired a new position in shares of Slide Insurance during the 3rd quarter worth about $871,000. FourThought Financial Partners LLC acquired a new position in shares of Slide Insurance during the 4th quarter worth about $5,893,000. Finally, First American Bank acquired a new position in shares of Slide Insurance during the 4th quarter worth about $7,079,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Keefe, Bruyette & Woods increased their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays increased their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One investment 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Get Our Latest Stock Analysis on SLDE

Slide Insurance Company Profile

(Get 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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