Slide Insurance Holdings, Inc. $SLDE Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. trimmed its position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) by 29.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,029 shares of the company's stock after selling 49,339 shares during the quarter. Avantax Planning Partners Inc. owned approximately 0.10% of Slide Insurance worth $2,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SLDE. Comerica Bank raised its holdings 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 during the period. CWM LLC bought a new stake in shares of Slide Insurance during the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the 3rd quarter valued at about $35,000. Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance during the fourth quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock worth $49,000 after acquiring an additional 2,468 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on SLDE shares. Morgan Stanley restated an "equal weight" rating and issued a $20.00 target price (down from $23.00) on shares of Slide Insurance in a research note on Monday, July 6th. Zacks Research cut Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Slide Insurance in a report on Wednesday, May 6th. Barclays reduced their price objective on Slide Insurance from $31.00 to $27.00 and set an "overweight" rating for the company in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Slide Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.75.

Insider Buying and Selling at Slide Insurance

In other news, CEO Bruce Lucas sold 455,000 shares of Slide Insurance stock in a transaction that occurred on Monday, May 18th. The shares were 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. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 3,382,850 shares of company stock worth $63,811,068. Company insiders own 50.80% of the company's stock.

Slide Insurance Stock Down 2.3%

Shares of SLDE stock opened at $20.88 on Wednesday. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $21.79. The stock has a market cap of $2.39 billion and a PE ratio of 5.80. The business's fifty day moving average is $18.48 and its 200-day moving average is $18.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The business had revenue of $389.28 million during the quarter. Equities analysts expect that Slide Insurance Holdings, Inc. will post 3.59 earnings per share for the current fiscal year.

Slide Insurance announced that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

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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