Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells 27,069 Shares of Stock

Key Points

• COO Shannon Lucas sold 27,069 shares on April 9 at an average price of $18.11 (worth $490,219.59) and has executed a series of March–April sales that reduced her ownership by 1.86% to 1,427,069 shares valued at about $25.84 million.
• Slide Insurance shares trade around $18.05 with a market cap of $2.24 billion and a P/E of 7.00; the company reported a Q4 beat with $1.23 EPS (vs. $0.87 est.) and carries a consensus Buy rating with an average price target of $24.40.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) COO Shannon Lucas sold 27,069 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $18.11, for a total value of $490,219.59. Following the completion of the sale, the chief operating officer owned 1,427,069 shares of the company's stock, valued at approximately $25,844,219.59. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The stock was sold at an average price of $18.05, for a total transaction of $462,459.05.
• On Wednesday, April 8th, Shannon Lucas sold 12,008 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $216,264.08.
• On Tuesday, April 7th, Shannon Lucas sold 11,283 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $203,094.00.
• On Monday, April 6th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total transaction of $244,215.00.
• On Monday, March 30th, Shannon Lucas sold 13,389 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total transaction of $242,207.01.
• On Wednesday, April 1st, Shannon Lucas sold 868 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $15,632.68.
• On Tuesday, March 31st, Shannon Lucas sold 24,429 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total transaction of $442,164.90.
• On Tuesday, March 17th, Shannon Lucas sold 9,763 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total transaction of $180,029.72.
• On Monday, March 16th, Shannon Lucas sold 22,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.13, for a total transaction of $407,925.00.
• On Wednesday, March 11th, Shannon Lucas sold 270 shares of Slide Insurance stock. The stock was sold at an average price of $17.42, for a total transaction of $4,703.40.

Slide Insurance Trading Up 0.3%

NASDAQ SLDE traded up $0.05 on Monday, hitting $18.05. 1,984,360 shares of the stock were exchanged, compared to its average volume of 2,266,573. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a fifty day moving average price of $17.76 and a two-hundred day moving average price of $17.12. The firm has a market capitalization of $2.24 billion and a P/E ratio of 7.00. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Slide Insurance in a research report on Friday, December 26th. Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Zacks Research upgraded Slide Insurance from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 17th. Keefe, Bruyette & Woods lifted their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, March 9th. Finally, Texas Capital upgraded Slide Insurance to a "strong-buy" rating in a research report on Wednesday, March 18th. Two equities research 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. According to MarketBeat, Slide Insurance has a consensus rating of "Buy" and an average price target of $24.40.

Institutional Trading of Slide Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Slide Insurance by 49.4% in the third quarter. Capital World Investors now owns 4,483,180 shares of the company's stock valued at $70,767,000 after acquiring an additional 1,483,180 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Slide Insurance by 14.7% in 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. raised its holdings in shares of Slide Insurance by 27.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company's stock valued at $34,250,000 after acquiring an additional 380,161 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Slide Insurance in the second quarter valued at about $33,063,000. Finally, Freestone Grove Partners LP raised its holdings in shares of Slide Insurance by 50.3% in the fourth quarter. Freestone Grove Partners LP now owns 986,543 shares of the company's stock valued at $19,218,000 after acquiring an additional 330,165 shares in the last quarter.

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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