KTF Investments LLC Buys New Holdings in Slide Insurance Holdings, Inc. $SLDE

Key Points

• KTF Investments LLC initiated a new position in Slide Insurance (NASDAQ:SLDE), buying 67,229 shares worth about $1.31 million, representing roughly 0.05% of the company at quarter-end.
• Slide Insurance beat expectations with quarterly EPS of $1.23 vs. $0.87 consensus and revenue of $347.0M; the stock trades around $18.93 with a market cap of $2.35B and a P/E of 7.34.
• Insiders have been net sellers, including CEO Bruce Lucas who sold 273,702 shares (~$4.96M), while analysts maintain a consensus "Buy" and an average price target of $24.40 (Barclays at $29).

KTF Investments LLC bought a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 67,229 shares of the company's stock, valued at approximately $1,310,000. KTF Investments LLC owned about 0.05% of Slide Insurance at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Comerica Bank lifted its stake in shares of 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 in the last quarter. CWM LLC acquired a new position in shares of Slide Insurance during the fourth quarter worth about $35,000. Ameritas Investment Partners Inc. acquired a new position in shares of Slide Insurance during the third quarter worth about $35,000. Strs Ohio acquired a new position in shares of Slide Insurance during the third quarter worth about $77,000. Finally, SG Americas Securities LLC lifted its stake in shares of Slide Insurance by 30.1% during the fourth quarter. SG Americas Securities LLC now owns 24,103 shares of the company's stock worth $470,000 after purchasing an additional 5,576 shares in the last quarter.

Slide Insurance Trading Up 2.5%

NASDAQ:SLDE opened at $18.93 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The business's 50-day simple moving average is $18.09 and its 200 day simple moving average is $17.35. The stock has a market cap of $2.35 billion and a price-to-earnings ratio of 7.34.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last released 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 during the quarter. As a group, sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLDE has been the topic of a number of recent research reports. Texas Capital upgraded Slide Insurance to a "strong-buy" rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, March 9th. Zacks Research upgraded Slide Insurance from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 17th. Wall Street Zen cut Slide Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, Barclays boosted their price objective on Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Slide Insurance has a consensus rating of "Buy" and an average price target of $24.40.

Insider Activity at Slide Insurance

In related news, CEO Bruce Lucas sold 273,702 shares of the business's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $18.11, for a total value of $4,956,743.22. Following the transaction, the chief executive officer owned 37,620,933 shares in the company, valued at approximately $681,315,096.63. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 3,059,578 shares of company stock valued at $56,002,750 in the last 90 days.

Slide Insurance 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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