Flaharty Asset Management LLC Buys Shares of 53,931 Slide Insurance Holdings, Inc. $SLDE

Key Points

• Flaharty Asset Management disclosed a new fourth-quarter position in Slide Insurance, buying 53,931 shares worth about $1.05 million.
• Slide Insurance reported a better-than-expected Q1 earnings result, with EPS of $1.02 versus the $0.82 consensus, and its board approved a $100 million share repurchase program.
• Despite the upbeat results, insider selling has been notable, including CEO Bruce Lucas selling 455,000 shares; meanwhile, analysts remain generally positive with a Moderate Buy consensus and a $24.80 average target price.

Flaharty Asset Management LLC purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,931 shares of the company's stock, valued at approximately $1,051,000.

A number of other institutional investors have also modified their holdings of SLDE. Great Lakes Advisors LLC purchased a new position in Slide Insurance during the 3rd quarter valued at about $3,113,000. Fifth Third Bancorp increased its stake in Slide Insurance by 529,826.4% during the fourth quarter. Fifth Third Bancorp now owns 381,547 shares of the company's stock worth $7,433,000 after purchasing an additional 381,475 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Slide Insurance during the fourth quarter worth about $2,235,000. Federated Hermes Inc. acquired a new stake in shares of Slide Insurance during the third quarter worth about $9,471,000. Finally, Quantbot Technologies LP purchased a new position in shares of Slide Insurance in the third quarter valued at approximately $871,000.

Insider Activity at Slide Insurance

In related news, CEO Bruce Lucas sold 455,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00. Following the transaction, the chief executive officer owned 35,429,165 shares of the company's stock, valued at $675,279,884.90. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 5,329,837 shares of company stock worth $99,058,522 in the last three months. Insiders own 50.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SLDE shares. Barclays lifted their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, March 9th. Texas Capital upgraded shares of Slide Insurance to a "strong-buy" rating in a research note on Wednesday, March 18th. Zacks Research lowered Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.80.

Slide Insurance Stock Up 1.1%

Shares of NASDAQ:SLDE opened at $18.68 on Thursday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The firm's 50 day moving average price is $18.21 and its 200 day moving average price is $17.70. 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 stock has a market cap of $2.14 billion and a price-to-earnings ratio of 5.19.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The company had revenue of $389.28 million during the quarter. As a group, equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance declared that its board has approved a share repurchase plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

More Slide Insurance News

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 support premium growth. Article Title
• Neutral Sentiment: The company also continues to draw attention after a strong quarterly earnings beat and a recently authorized $100 million share repurchase program, both of which can help underpin investor confidence.
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average target price of $24.80.
• Negative Sentiment: Multiple insiders sold shares over May 15-19, including CEO Bruce Lucas, COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson, which may be weighing on sentiment because investors often read clustered insider sales as a sign of limited near-term upside. Article Title Article Title Article Title Article Title

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.

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