Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells 25,000 Shares of Company Stock

Key Points

• Director Beth Bruce sold 25,000 shares for $681,500 at an average price of $27.26, reducing her stake by 13.92% to 154,645 shares.
• Slide reported quarterly EPS of $1.09, beating the $0.65 consensus, while revenue of $361.05 million fell short of analysts’ $398.08 million estimate.
• The company declared a $1.50-per-share special dividend, payable November 30 to shareholders of record November 23. Analysts’ consensus rating is “Moderate Buy,” with a $28.33 average price target.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Beth Bruce sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $27.26, for a total transaction of $681,500.00. Following the transaction, the director directly owned 154,645 shares of the company's stock, valued at $4,215,622.70. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Slide Insurance Stock Up 0.9%

Shares of NASDAQ SLDE traded up $0.24 during midday trading on Monday, reaching $26.18. The company's stock had a trading volume of 1,232,965 shares, compared to its average volume of 1,427,675. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.02. Slide Insurance Holdings, Inc. has a fifty-two week low of $15.11 and a fifty-two week high of $29.15. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 5.95 and a beta of -0.19. The stock has a 50 day simple moving average of $25.38 and a 200-day simple moving average of $20.41.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.65 by $0.44. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. The business had revenue of $361.05 million during the quarter, compared to analysts' expectations of $398.08 million. Equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.99 earnings per share for the current year.

Slide Insurance Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, November 23rd. Slide Insurance's dividend payout ratio is currently 6.36%.

Hedge Funds Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently modified their holdings of SLDE. BlackRock Inc. acquired a new stake in Slide Insurance in the 2nd quarter valued at $98,538,000. Arrowstreet Capital Limited Partnership boosted its holdings in Slide Insurance by 298.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company's stock worth $48,380,000 after acquiring an additional 2,012,428 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Slide Insurance by 27.2% in the 1st quarter. Lazard Asset Management LLC now owns 849,967 shares of the company's stock worth $15,299,000 after acquiring an additional 181,795 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Slide Insurance during the second quarter worth about $14,530,000. Finally, Man Group plc purchased a new stake in Slide Insurance in the 2nd quarter valued at about $12,229,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SLDE shares. Barclays lifted their target price on Slide Insurance from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Wednesday, October 28th. Zacks Research cut shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Raymond James Financial set a $35.00 target price on shares of Slide Insurance in a research report on Wednesday, October 28th. Finally, Weiss Ratings raised Slide Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.33.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused on residential property coverage. Through its insurance operations, the company offers homeowners insurance and related coverage for personal residences.

Founded in 2021 by insurance executive Bruce Lucas, Slide built its business in the southeastern United States, including Florida. The company uses technology and data to support policy administration, underwriting and claims services.

Bruce Lucas serves as Slide's chairman and chief executive officer.

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