World Investment Advisors Takes $1.96 Million Position in Slide Insurance Holdings, Inc. $SLDE

Key Points

• World Investment Advisors opened a new position in Slide Insurance Holdings, buying 100,837 shares valued at about $1.96 million in the fourth quarter.
• Institutional interest remains strong, with firms like Capital World Investors, Vanguard, and Balyasny all increasing their stakes in the insurer.
• Analysts are broadly constructive: Slide Insurance has a Moderate Buy consensus rating and a $24.80 average price target, while the company also authorized a $100 million stock buyback.

World Investment Advisors acquired a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 100,837 shares of the company's stock, valued at approximately $1,964,000. World Investment Advisors owned 0.08% of Slide Insurance as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company's stock valued at $70,767,000 after buying an additional 1,483,180 shares during the period. Vanguard Group Inc. grew its stake in Slide Insurance by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company's stock valued at $53,800,000 after acquiring an additional 354,321 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Slide Insurance by 27.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company's stock worth $34,250,000 after acquiring an additional 380,161 shares during the period. Raymond James Financial Inc. purchased a new stake in Slide Insurance in the 2nd quarter worth approximately $33,063,000. Finally, Freestone Grove Partners LP boosted its holdings in Slide Insurance by 50.3% in the 4th quarter. Freestone Grove Partners LP now owns 986,543 shares of the company's stock valued at $19,218,000 after purchasing an additional 330,165 shares during the period.

Analysts Set New Price Targets

SLDE has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Slide Insurance in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Piper Sandler lifted their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Zacks Research lowered Slide Insurance from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Texas Capital raised Slide Insurance to a "strong-buy" rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.80.

Insider Activity

In other Slide Insurance news, Director Beth Witte Bruce sold 23,500 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $19.01, for a total transaction of $446,735.00. Following the sale, the director directly owned 179,645 shares of the company's stock, valued at $3,415,051.45. This trade represents a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Paul Larson sold 13,750 shares of Slide Insurance stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.07, for a total value of $234,712.50. Following the sale, the insider directly owned 8,998 shares in the company, valued at $153,595.86. This trade represents a 60.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 5,093,475 shares of company stock valued at $94,400,107. 50.80% of the stock is currently owned by company insiders.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $16.58 on Friday. The company has a market cap of $1.90 billion and a PE ratio of 4.61. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $18.04 and a two-hundred day simple moving average of $17.82. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping 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 for the quarter. Research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance declared that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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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