Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 118,055 Shares

Key Points

• Bruce Lucas sold 118,055 shares on April 20 at an average price of $19.55 for $2,307,975, and has disposed of roughly 1.78 million shares since late March — about $32.4 million in total across those transactions.
• After the trades Lucas still owns 37,052,987 shares (about $724.4 million), a ~0.32% reduction in his stake; SLDE traded down 0.9% to $18.81 while analysts maintain a consensus "Buy" rating with a $24.40 target after the company reported $1.23 EPS versus $0.87 expected.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 118,055 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $19.55, for a total transaction of $2,307,975.25. Following the completion of the transaction, the chief executive officer directly owned 37,052,987 shares in the company, valued at approximately $724,385,895.85. The trade was a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, April 14th, Bruce Lucas sold 190,836 shares of Slide Insurance stock. The shares were sold at an average price of $18.04, for a total value of $3,442,681.44.
• On Monday, April 13th, Bruce Lucas sold 259,055 shares of Slide Insurance stock. The shares were sold at an average price of $18.05, for a total value of $4,675,942.75.
• On Thursday, April 9th, Bruce Lucas sold 273,702 shares of Slide Insurance stock. The shares were sold at an average price of $18.11, for a total value of $4,956,743.22.
• On Wednesday, April 8th, Bruce Lucas sold 121,414 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total value of $2,186,666.14.
• On Tuesday, April 7th, Bruce Lucas sold 114,077 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $2,053,386.00.
• On Monday, April 6th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.09, for a total value of $2,469,285.00.
• On Monday, March 30th, Bruce Lucas sold 135,376 shares of Slide Insurance stock. The shares were sold at an average price of $18.09, for a total value of $2,448,951.84.
• On Wednesday, April 1st, Bruce Lucas sold 8,771 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total value of $157,965.71.
• On Tuesday, March 31st, Bruce Lucas sold 247,008 shares of Slide Insurance stock. The shares were sold at an average price of $18.10, for a total value of $4,470,844.80.
• On Thursday, March 26th, Bruce Lucas sold 178,733 shares of Slide Insurance stock. The shares were sold at an average price of $18.04, for a total value of $3,224,343.32.

Slide Insurance Stock Down 0.9%

SLDE traded down $0.17 during trading on Wednesday, reaching $18.81. The stock had a trading volume of 1,038,795 shares, compared to its average volume of 1,647,798. 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 one year low of $12.53 and a one year high of $25.90. The business has a 50-day moving average of $17.99 and a 200-day moving average of $17.29.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter. As a group, analysts forecast that Slide Insurance Holdings, Inc. will post 3.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods upped 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. Weiss Ratings restated a "hold (c-)" rating on shares of Slide Insurance in a research report on Friday, December 26th. Piper Sandler upped 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. Texas Capital upgraded shares of Slide Insurance to a "strong-buy" rating in a research report on Wednesday, March 18th. Finally, Barclays upped 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. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Slide Insurance currently has a consensus rating of "Buy" and a consensus target price of $24.40.

Institutional Trading of Slide Insurance

A number of institutional investors have recently modified their holdings of the company. Comerica Bank boosted its holdings in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company's stock worth $26,000 after purchasing an additional 1,281 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Slide Insurance by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company's stock worth $313,000 after purchasing an additional 1,704 shares during the period. CWM LLC purchased a new stake in shares of Slide Insurance during the fourth quarter worth about $35,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance during the third quarter worth about $35,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Slide Insurance during the fourth quarter worth about $47,000.

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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