Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells 22,500 Shares of Stock
by Tristan Rich · The Markets DailySlide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) COO Shannon Lucas sold 22,500 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.13, for a total transaction of $407,925.00. Following the transaction, the chief operating officer owned 1,562,871 shares in the company, valued at approximately $28,334,851.23. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shannon Lucas also recently made the following trade(s):
- On Tuesday, March 17th, Shannon Lucas sold 9,763 shares of Slide Insurance stock. The shares were sold at an average price of $18.44, for a total transaction of $180,029.72.
- On Wednesday, March 11th, Shannon Lucas sold 270 shares of Slide Insurance stock. The stock was sold at an average price of $17.42, for a total transaction of $4,703.40.
- On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total transaction of $213,291.00.
- On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $444,003.56.
- On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $330,742.75.
Slide Insurance Stock Down 2.7%
NASDAQ SLDE traded down $0.49 during midday trading on Wednesday, hitting $17.75. 2,532,975 shares of the company traded hands, compared to its average volume of 2,236,213. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The company’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $16.63. The company has a market cap of $2.21 billion and a PE ratio of 6.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34.
Slide Insurance (NASDAQ:SLDE – Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million during the quarter.
Institutional Trading of Slide Insurance
A number of hedge funds have recently bought and sold shares of SLDE. Capital World Investors grew its position in shares of Slide Insurance by 49.4% in the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after purchasing an additional 1,483,180 shares in the last quarter. Vanguard Group Inc. raised its holdings in Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after buying an additional 354,321 shares during the period. American Century Companies Inc. acquired a new position in shares of Slide Insurance in the 2nd quarter worth approximately $56,229,000. Balyasny Asset Management L.P. lifted its stake in Slide Insurance by 27.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after purchasing an additional 380,161 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Slide Insurance during the 2nd quarter worth about $33,063,000.
Wall Street Analysts Forecast Growth
SLDE has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Barclays increased their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Piper Sandler upped their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Slide Insurance has an average rating of “Moderate Buy” and a consensus price target of $24.40.
View Our Latest Stock Analysis on SLDE
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.