Matthew Paul Larson Sells 10,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Key Points

• Insider Matthew Paul Larson sold 10,000 shares of Slide Insurance on April 13 at $18, cutting his stake by 50% to 10,000 shares; this is part of a series of sales since March 3 totaling about 55,000 shares for roughly $1.0 million in proceeds.
• Slide Insurance stock traded near $18.39 with a market cap of $2.29 billion and a P/E of 7.13; the company recently reported a quarterly $1.23 EPS (beating $0.87 est.) and analysts have an average target of $24.40 with mostly Buy/Strong Buy ratings.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Paul Larson sold 10,000 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $18.00, for a total transaction of $180,000.00. Following the completion of the transaction, the insider directly owned 10,000 shares in the company, valued at $180,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total transaction of $213,862.50.

Slide Insurance Price Performance

Slide Insurance stock traded up $0.48 during mid-day trading on Wednesday, reaching $18.39. 1,530,400 shares of the company's stock traded hands, compared to its average volume of 2,244,203. The company has a market cap of $2.29 billion and a price-to-earnings ratio of 7.13. The stock has a 50 day moving average of $17.81 and a two-hundred day moving average of $17.15. 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 12-month low of $12.53 and a 12-month high of $25.90.

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

Hedge Funds Weigh In On Slide Insurance

Institutional investors have recently bought and sold shares of the business. Comerica Bank raised its position in Slide Insurance by 3,462.2% during the 4th quarter. Comerica Bank now owns 1,318 shares of the company's stock worth $26,000 after buying an additional 1,281 shares during the last quarter. CWM LLC purchased a new position in Slide Insurance during the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance during the 3rd quarter worth approximately $35,000. Aster Capital Management DIFC Ltd purchased a new position in Slide Insurance during the 4th quarter worth approximately $47,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Slide Insurance by 4,839.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock worth $49,000 after buying an additional 2,468 shares during the last quarter.

Analyst Ratings Changes

SLDE has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, March 9th. Barclays increased their price target on shares of Slide Insurance from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a "hold (c-)" rating on shares of Slide Insurance in a research report on Friday, December 26th. Piper Sandler increased their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Finally, Zacks Research raised shares of Slide Insurance from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 17th. Two 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 company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $24.40.

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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