Slide Insurance (NASDAQ:SLDE) Sets New 52-Week High - What's Next?

Key Points

• Slide Insurance shares reached a new 52-week high of $27.70, with the stock valued at approximately $3.24 billion and trading above its 50- and 200-day moving averages.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating, although the $25.60 average price target is below the current share price.
• The company beat quarterly earnings expectations, reporting $1.06 in EPS versus the $0.88 consensus estimate, and pays a $0.07 quarterly dividend. Insiders have sold approximately $5.9 million of shares over the past 90 days.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $27.70 and last traded at $27.6150, with a volume of 504,999 shares changing hands. The stock had previously closed at $27.11.

Analyst Ratings Changes

A number of research analysts have issued reports on SLDE shares. Weiss Ratings upgraded shares of Slide Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Slide Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Zacks Research cut Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Keefe, Bruyette & Woods increased their price target on Slide Insurance from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, Citigroup restated an "outperform" rating on shares of Slide Insurance in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

Slide Insurance Stock Performance

The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 6.77 and a beta of 0.13. The stock has a 50 day moving average of $24.23 and a 200 day moving average of $20.82. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02.

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

Slide Insurance Dividend Announcement

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

Insider Activity

In related news, insider Matthew Larson sold 2,600 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 2,600 shares of the company's stock, valued at $71,578. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Gries, Jr. sold 61,762 shares of Slide Insurance stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $24.28, for a total value of $1,499,581.36. Following the transaction, the director directly owned 1,523,449 shares in the company, valued at $36,989,341.72. The trade was a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 247,742 shares of company stock worth $5,921,112. Insiders own 50.80% of the company's stock.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently made changes to their positions in SLDE. Global Retirement Partners LLC bought a new position in shares of Slide Insurance during the second quarter worth about $39,000. Meeder Asset Management Inc. bought a new stake in Slide Insurance in the second quarter valued at approximately $40,000. State of Wyoming bought a new stake in Slide Insurance in the first quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd increased 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 valued at $49,000 after purchasing an additional 2,468 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Slide Insurance during the 2nd 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.