Slide Insurance (NASDAQ:SLDE) Insider Sells 2,600 Shares of Stock

Key Points

• Insider sale: Matthew Larson sold 2,600 Slide Insurance shares for approximately $71,578, cutting his ownership by 50% to 2,600 shares. He had also sold 11,374 shares in separate transactions in September.
• Stock performance and earnings: SLDE recently traded at $27.75, near its 12-month high of $27.97. The company reported quarterly EPS of $1.06, beating analyst estimates of $0.88, on revenue of $386.82 million.
• Analyst sentiment: Slide Insurance has a consensus “Moderate Buy” rating, with one Strong Buy, six Buy, and two Hold ratings; the consensus price target is $25.60.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Larson sold 2,600 shares of the business's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $27.53, for a total transaction of $71,578.00. Following the completion of the sale, the insider owned 2,600 shares in the company, valued at $71,578. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 Price Performance

Shares of NASDAQ SLDE traded up $0.64 on Thursday, hitting $27.75. The company's stock had a trading volume of 1,388,814 shares, compared to its average volume of 1,424,746. Slide Insurance Holdings, Inc. has a 12-month low of $14.56 and a 12-month high of $27.97. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 6.77 and a beta of 0.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a 50 day moving average of $24.23 and a 200-day moving average of $20.82.

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

Slide Insurance Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLDE shares. Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a research note on Monday, August 3rd. Barclays raised their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Citizens Jmp lifted their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock a "market outperform" rating in a report on Monday, October 12th. 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. Finally, Citigroup restated an "outperform" rating on shares of Slide Insurance in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Slide Insurance has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

Institutional Trading of Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Slide Insurance in the 2nd quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new stake in Slide Insurance during the 2nd quarter worth approximately $40,000. State of Wyoming acquired a new stake in Slide Insurance during the 1st quarter worth approximately $42,000. Caitong International Asset Management Co. Ltd raised its holdings in Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock valued at $49,000 after buying an additional 2,468 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Slide Insurance in the second quarter valued at approximately $85,000.

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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