HB Wealth Management LLC Has $17.39 Million Stake in Slide Insurance Holdings, Inc. $SLDE

Key Points

• HB Wealth Management increased its position in Slide Insurance (NASDAQ:SLDE) by 1,375.7% in Q4 to 892,586 shares, a stake worth about $17.39 million (0.72% of the company).
• Significant insider selling occurred: CEO Bruce Lucas sold 118,055 shares for ~$2.31 million and insiders disposed of a total of 3,059,578 shares worth $56.0 million in the last quarter.
• Analysts hold a consensus "Buy" rating with a $24.40 price target; SLDE trades near $18.81 with a market cap of $2.34 billion and a P/E of 7.29.

HB Wealth Management LLC boosted its holdings in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) by 1,375.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 892,586 shares of the company's stock after purchasing an additional 832,102 shares during the period. HB Wealth Management LLC owned 0.72% of Slide Insurance worth $17,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLDE. Geode Capital Management LLC acquired a new stake in Slide Insurance during the 2nd quarter valued at $2,245,000. Legal & General Group Plc acquired a new position in Slide Insurance during the 2nd quarter worth about $216,000. Norges Bank acquired a new position in Slide Insurance during the 2nd quarter worth about $866,000. Marshall Wace LLP acquired a new position in Slide Insurance during the 2nd quarter worth about $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new position in Slide Insurance during the 2nd quarter worth about $834,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SLDE shares. Piper Sandler upped 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. 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 report on Monday, March 9th. Wall Street Zen lowered shares of Slide Insurance from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Zacks Research raised shares of Slide Insurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Slide Insurance in a report on Friday, December 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $24.40.

Insider Transactions at Slide Insurance

In other news, insider Matthew Paul Larson sold 11,250 shares of Slide Insurance stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $19.39, for a total transaction of $218,137.50. Following the completion of the sale, the insider owned 8,750 shares in the company, valued at $169,662.50. The trade was a 56.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bruce Lucas sold 118,055 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $19.55, for a total value of $2,307,975.25. Following the completion of the transaction, the chief executive officer directly owned 37,052,987 shares in the company, valued at approximately $724,385,895.85. This trade represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,059,578 shares of company stock worth $56,002,750 in the last quarter.

Slide Insurance Trading Down 0.9%

Shares of SLDE opened at $18.81 on Thursday. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The stock's fifty day simple moving average is $17.99 and its 200-day simple moving average is $17.29. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.34 billion and a PE ratio of 7.29.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The business had revenue of $347.01 million for the quarter. As a group, research analysts predict that Slide Insurance Holdings, Inc. will post 3.26 earnings per share for the current year.

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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