Shannon Lucas Sells 25,621 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Key Points

• COO Shannon Lucas sold 25,621 shares on April 13 at $18.05 and has executed multiple insider sales in March–April, leaving her with 1,401,448 shares — a 1.80% reduction in ownership.
• Slide Insurance shares traded at $18.05 with a market cap of $2.24 billion; the company reported an EPS of $1.23 beating estimates, and analysts' consensus is an average "Buy" rating with a $24.40 price target.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) COO Shannon Lucas sold 25,621 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $18.05, for a total value of $462,459.05. Following the sale, the chief operating officer owned 1,401,448 shares of the company's stock, valued at $25,296,136.40. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, April 9th, Shannon Lucas sold 27,069 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total value of $490,219.59.
• 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 value 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 Price Performance

Shares of NASDAQ:SLDE traded up $0.05 during trading on Monday, hitting $18.05. 1,984,360 shares of the company were exchanged, compared to its average volume of 2,266,573. The business's 50 day moving average is $17.76 and its 200-day moving average is $17.12. The company has a market capitalization of $2.24 billion and a P/E ratio of 7.00. 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 1-year low of $12.53 and a 1-year high of $25.90.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Zacks Research upgraded Slide Insurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 17th. Piper Sandler increased their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods increased their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, March 9th. Barclays increased their price objective on Slide Insurance from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Slide Insurance in a report on Friday, December 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $24.40.

Institutional Trading of Slide Insurance

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

About Slide Insurance

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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