Capstone Investment Advisors LLC Takes $1.03 Million Position in Slide Insurance Holdings, Inc. $SLDE

Capstone Investment Advisors LLC bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 53,186 shares of the company's stock, valued at approximately $1,030,000.

Other large investors have also added to or reduced their stakes in the company. Comerica Bank boosted its position in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company's stock worth $26,000 after purchasing an additional 1,281 shares during the period. CWM LLC bought a new position in shares of Slide Insurance in the fourth quarter valued at about $35,000. Global Retirement Partners LLC bought a new position in shares of Slide Insurance in the second quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new stake in shares of Slide Insurance during the 2nd quarter worth about $40,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the 3rd quarter worth about $35,000.

Insider Activity

In other Slide Insurance news, Director Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $18.01, for a total value of $558,346.02. Following the completion of the transaction, the director directly owned 48,998 shares of the company's stock, valued at $882,453.98. The trade was a 38.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shannon Lucas sold 19,058 shares of the company's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $17.03, for a total value of $324,557.74. Following the sale, the chief operating officer owned 1,123,415 shares of the company's stock, valued at approximately $19,131,757.45. The trade was a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 494,191 shares of company stock worth $9,065,901. 50.80% of the stock is currently owned by insiders.

Slide Insurance Price Performance

Shares of Slide Insurance stock opened at $23.46 on Friday. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $23.75. 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 has a 50-day simple moving average of $20.74 and a two-hundred day simple moving average of $18.93. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 5.72 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The firm had revenue of $386.82 million for the quarter. Analysts forecast that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Slide Insurance's dividend payout ratio is currently 6.83%.

Analyst Ratings Changes

Several research firms have weighed in on SLDE. Citigroup reissued an "outperform" rating on shares of Slide Insurance in a report on Thursday, July 30th. Barclays boosted their price objective on Slide Insurance from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Slide Insurance in a research note on Monday, August 3rd. Wall Street Zen raised Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded Slide Insurance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Slide Insurance presently has an average rating of "Buy" and a consensus target price of $25.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source