Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 11,150 Shares of Company Stock

Key Points

• Insider sale: Matthew Paul Larson sold 11,150 Slide Insurance shares for approximately $307,183, reducing his position by 50% to 11,150 shares. He also reported three earlier sales totaling 25,348 shares.
• Stock performance: SLDE rose to $28.55, near its 52-week high of $28.69, with shares trading above both the 50-day and 200-day moving averages.
• Financial and analyst outlook: Slide exceeded quarterly EPS expectations, reporting $1.06 versus an $0.88 consensus estimate, and analysts maintain a “Moderate Buy” consensus with a $25.60 target price. The company also pays a quarterly dividend of $0.07, equivalent to a 1.0% yield.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Larson sold 11,150 shares of the firm's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $27.55, for a total transaction of $307,182.50. Following the sale, the insider owned 11,150 shares of the company's stock, valued at approximately $307,182.50. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Matthew Paul Larson also recently made the following trade(s):

• On Tuesday, October 20th, Matthew Larson sold 2,600 shares of Slide Insurance stock. The shares were sold at an average price of $27.53, for a total value of $71,578.00.
• On Monday, September 14th, Matthew Larson sold 11,374 shares of Slide Insurance stock. The shares were sold at an average price of $26.00, for a total transaction of $295,724.00.
• On Thursday, September 3rd, Matthew Larson sold 11,374 shares of Slide Insurance stock. The stock was sold at an average price of $24.62, for a total transaction of $280,027.88.

Slide Insurance Stock Performance

Shares of NASDAQ:SLDE traded up $0.80 on Friday, reaching $28.55. 1,671,925 shares of the company's stock were exchanged, compared to its average volume of 1,425,958. The company has a fifty day moving average of $24.35 and a 200-day moving average of $20.89. Slide Insurance Holdings, Inc. has a twelve month low of $15.11 and a twelve month high of $28.69. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 6.96 and a beta of 0.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.18. The business had revenue of $386.82 million during the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. On average, research analysts predict that Slide Insurance Holdings, Inc. will post 3.84 EPS for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. Slide Insurance's payout ratio is 6.83%.

Institutional Trading of Slide Insurance

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

Analyst Ratings Changes

SLDE has been the topic of a number of analyst reports. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research note on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Barclays upped their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Slide Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings raised shares of Slide Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.60.

Slide Insurance Company Profile

Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.

Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.

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