Slide Insurance (NASDAQ:SLDE) Director Sells 5,000 Shares of Stock

by · The Markets Daily

Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) Director Stephen Rohde sold 5,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $105,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Slide Insurance Price Performance

SLDE stock traded down $0.47 during trading on Monday, reaching $20.66. The company’s stock had a trading volume of 671,236 shares, compared to its average volume of 1,089,536. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average is $19.28 and its 200-day moving average is $18.40. The company has a market capitalization of $2.41 billion, a P/E ratio of 5.15 and a beta of -0.04. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $23.00.

Slide Insurance (NASDAQ:SLDE – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The firm had revenue of $386.82 million during the quarter. On average, research analysts expect that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%.

Slide Insurance declared that its Board of Directors has authorized 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 buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SLDE has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Morgan Stanley set a $22.00 target price on Slide Insurance in a research report on Monday, August 3rd. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Finally, Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.40.

View Our Latest Analysis on Slide Insurance

Hedge Funds Weigh In On Slide Insurance

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Slide Insurance during the second quarter valued at $98,538,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Slide Insurance by 298.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after acquiring an additional 2,012,428 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Slide Insurance in the 2nd quarter worth about $33,063,000. Balyasny Asset Management L.P. boosted its stake in shares of Slide Insurance by 314.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock worth $21,753,000 after purchasing an additional 1,045,826 shares during the period. Finally, HB Wealth Management LLC boosted its stake in shares of Slide Insurance by 1,375.7% during the 4th quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock worth $17,388,000 after purchasing an additional 832,102 shares during the period.

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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