Robert Gries, Jr. Sells 28,212 Shares of Slide Insurance (NASDAQ:SLDE) Stock
by Danessa Lincoln · The Markets DailySlide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) Director Robert Gries, Jr. sold 28,212 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $18.35, for a total value of $517,690.20. Following the sale, the director owned 2,003,053 shares in the company, valued at $36,756,022.55. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Slide Insurance Price Performance
Shares of SLDE opened at $17.30 on Friday. The firm has a market cap of $2.15 billion and a price-to-earnings ratio of 6.71. The stock has a 50 day moving average of $17.35 and a 200-day moving average of $16.64. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90.
Slide Insurance (NASDAQ:SLDE – Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on SLDE. Piper Sandler raised their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective 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. Barclays raised their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Slide Insurance has a consensus rating of “Buy” and an average target price of $24.40.
View Our Latest Stock Analysis on Slide Insurance
Hedge Funds Weigh In On Slide Insurance
Several hedge funds and other institutional investors have recently modified their holdings of SLDE. American Century Companies Inc. acquired a new stake in Slide Insurance in the second quarter worth about $56,229,000. Raymond James Financial Inc. acquired a new position in Slide Insurance during the 2nd quarter valued at about $33,063,000. Capital World Investors increased its stake in Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after buying an additional 1,483,180 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Slide Insurance during the 2nd quarter worth about $31,542,000. Finally, Balyasny Asset Management L.P. raised its position 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 buying an additional 1,045,826 shares in the last quarter.
Key Slide Insurance News
Here are the key news stories impacting Slide Insurance this week:
- Positive Sentiment: Analyst upgrades and price‑target increases — Zacks upgraded SLDE to a “strong‑buy” and Keefe, Bruyette & Woods raised its target, reflecting stronger analyst conviction that can attract buying interest. Zacks.com Keefe Bruyette Price Target
- Positive Sentiment: Consensus upside and fundamentals — Street coverage shows an implied ~36% upside vs. current levels and SLDE recently beat quarterly EPS ($1.23 vs. $0.87) on $347M revenue, which supports higher targets and momentum flows. Zacks Upside Note MarketBeat Company Page
- Neutral Sentiment: Peer/sector comparison pieces provide relative valuation context but aren’t immediate catalysts; useful for longer‑term allocation decisions. Exzeo vs Slide Analysis
- Negative Sentiment: Heavy insider selling — CEO Bruce Lucas sold large blocks (227,500 shares on 3/16 and 98,716 on 3/17), COO Shannon Lucas sold multiple tranches, and a director also sold shares. These sizable disposals (while insiders still retain large stakes) are the most likely proximate cause of today’s weakness. SEC Filing (Bruce Lucas) InsiderTrades Summary
Slide Insurance Company Profile
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.