Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 11,250 Shares

by · The Markets Daily

Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) insider Matthew Paul Larson sold 11,250 shares of Slide Insurance stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $19.01, for a total value of $213,862.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Slide Insurance Stock Performance

Shares of Slide Insurance stock traded down $0.65 during trading on Friday, reaching $18.82. The company’s stock had a trading volume of 721,246 shares, compared to its average volume of 1,246,935. The company has a 50-day moving average price of $17.61 and a two-hundred day moving average price of $16.38. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The firm has a market cap of $2.34 billion and a PE ratio of 7.29. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE – Get Free Report) last announced its 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 business had revenue of $347.01 million during the quarter.

Hedge Funds Weigh In On Slide Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors lifted its position in Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after buying an additional 1,483,180 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Slide Insurance by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after acquiring an additional 354,321 shares during the period. American Century Companies Inc. purchased a new position in shares of Slide Insurance during the 2nd quarter worth about $56,229,000. Balyasny Asset Management L.P. boosted its position in shares of Slide Insurance by 27.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after acquiring an additional 380,161 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Slide Insurance in the second quarter valued at approximately $33,063,000.

Analyst Ratings Changes

A number of brokerages have commented on SLDE. Barclays upped their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Piper Sandler lifted their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Morgan Stanley boosted their target price on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Keefe, Bruyette & Woods raised their price target on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Check Out Our Latest Research Report on Slide Insurance

About Slide Insurance

(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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