Insider Selling: Slide Insurance (NASDAQ:SLDE) CEO Sells 190,836 Shares of Stock

Key Points

• CEO Bruce Lucas sold 190,836 shares on April 14 at an average price of $18.04 for $3.44 million and still directly owns 37,171,042 shares (about $670.6 million), a 0.51% decrease from that position.
• Ongoing insider selling: between March 17 and April 14 Lucas sold roughly 1.76 million shares across multiple transactions, generating approximately $31.9 million in proceeds.
• Company and market view: Slide Insurance shares traded around $18.99 mid-day, the company reported EPS of $1.23 beating estimates with $347.0M revenue, and analysts hold a consensus "Buy" with an average price target of $24.40.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 190,836 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $18.04, for a total value of $3,442,681.44. Following the sale, the chief executive officer directly owned 37,171,042 shares of the company's stock, valued at $670,565,597.68. The trade was a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Bruce Lucas also recently made the following trade(s):

• On Monday, April 13th, Bruce Lucas sold 259,055 shares of Slide Insurance stock. The shares were sold at an average price of $18.05, for a total value of $4,675,942.75.
• On Thursday, April 9th, Bruce Lucas sold 273,702 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total value of $4,956,743.22.
• On Wednesday, April 8th, Bruce Lucas sold 121,414 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total value of $2,186,666.14.
• On Tuesday, April 7th, Bruce Lucas sold 114,077 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $2,053,386.00.
• On Monday, April 6th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.09, for a total value of $2,469,285.00.
• On Monday, March 30th, Bruce Lucas sold 135,376 shares of Slide Insurance stock. The shares were sold at an average price of $18.09, for a total value of $2,448,951.84.
• On Wednesday, April 1st, Bruce Lucas sold 8,771 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total value of $157,965.71.
• On Tuesday, March 31st, Bruce Lucas sold 247,008 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total value of $4,470,844.80.
• On Thursday, March 26th, Bruce Lucas sold 178,733 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total value of $3,224,343.32.
• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total value of $1,820,323.04.

Slide Insurance Price Performance

Shares of NASDAQ:SLDE traded up $0.60 during mid-day trading on Thursday, reaching $18.99. 2,181,181 shares of the stock were exchanged, compared to its average volume of 2,194,104. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The stock's 50 day simple moving average is $17.84 and its 200-day simple moving average is $17.16.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Slide Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Weiss Ratings restated a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Piper Sandler raised their price target on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Barclays raised their price target on Slide Insurance from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods raised their price target on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $24.40.

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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