Bruce Lucas Sells 269,881 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Key Points

• CEO Bruce Lucas sold 269,881 shares of Slide Insurance on May 15 at an average price of $18.84, worth about $5.08 million. The filing shows he still holds more than 35.8 million shares, and he has made several additional sales in recent days.
• Slide Insurance stock fell 2.6% to $18.48 in Tuesday trading, below its 12-month high of $25.90 but above its low of $12.53. The company has a market cap of about $2.12 billion and a low debt-to-equity ratio of 0.03.
• Fundamentals and capital returns remain supportive: the company recently beat earnings expectations with $1.02 EPS versus $0.82 expected and approved a $100 million share repurchase plan. Analysts currently rate the stock a Moderate Buy, with an average target price of $24.80.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 269,881 shares of Slide Insurance stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.84, for a total value of $5,084,558.04. Following the transaction, the chief executive officer owned 35,884,165 shares of the company's stock, valued at approximately $676,057,668.60. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.97, for a total value of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.06, for a total value of $8,672,300.00.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total value of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $1,603,633.72.
• On Wednesday, April 29th, Bruce Lucas sold 191,276 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total value of $3,680,150.24.
• On Tuesday, April 28th, Bruce Lucas sold 154,207 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $2,920,680.58.
• On Monday, April 27th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $2,559,375.00.
• On Monday, April 20th, Bruce Lucas sold 118,055 shares of Slide Insurance stock. The shares were sold at an average price of $19.55, for a total value of $2,307,975.25.

Slide Insurance Trading Down 2.6%

NASDAQ:SLDE traded down $0.50 on Tuesday, reaching $18.48. The company's stock had a trading volume of 1,257,810 shares, compared to its average volume of 1,627,024. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.12 billion and a price-to-earnings ratio of 5.13. The stock has a 50 day moving average price of $18.19 and a 200 day moving average price of $17.68.

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

Slide Insurance announced that its board has approved a share buyback plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Trending Headlines about Slide Insurance

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and boost premium growth. Article Title
• Neutral Sentiment: The company’s CEO Bruce Lucas sold shares in multiple transactions over May 15-19, and COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson also sold stock, adding to investor focus on insider activity. Article Title Article Title Article Title Article Title
• Negative Sentiment: The clustering of insider sales may be weighing on sentiment, since investors often view heavy selling by management as a sign that shares may be fairly valued or that near-term upside is limited. Article Title

Institutional Investors Weigh In On Slide Insurance

Several large investors have recently bought and sold shares of SLDE. Geode Capital Management LLC purchased a new stake in Slide Insurance during the 2nd quarter worth about $2,245,000. Legal & General Group Plc purchased a new stake in Slide Insurance during the 2nd quarter worth about $216,000. Norges Bank purchased a new stake in Slide Insurance during the 2nd quarter worth about $866,000. Marshall Wace LLP purchased a new stake in Slide Insurance during the 2nd quarter worth about $1,056,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Slide Insurance during the 2nd quarter worth about $834,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Texas Capital upgraded Slide Insurance to a "strong-buy" rating in a report on Wednesday, March 18th. Wall Street Zen upgraded Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Zacks Research downgraded Slide Insurance from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Slide Insurance in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance presently has an average rating of "Moderate Buy" and an average target price of $24.80.

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.

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