Slide Insurance (NASDAQ:SLDE) CEO Sells $4,675,942.75 in Stock

Key Points

• Bruce Lucas sold 259,055 shares on April 13 at an average price of $18.05 for $4,675,942.75 and has executed multiple large sales in March–April, reducing his stake by 0.69% to 37,361,878 shares (≈$674.4M value).
• Slide shares trade at $18.05 with a market cap of $2.24B and a P/E of 7; the company reported $1.23 EPS last quarter beating estimates, and analysts have a consensus "Buy" rating with an average target of $24.40.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 259,055 shares of the company's stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $18.05, for a total transaction of $4,675,942.75. Following the completion of the transaction, the chief executive officer owned 37,361,878 shares of the company's stock, valued at approximately $674,381,897.90. This trade represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, April 9th, Bruce Lucas sold 273,702 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total transaction of $4,956,743.22.
• On Wednesday, April 8th, Bruce Lucas sold 121,414 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $2,186,666.14.
• On Tuesday, April 7th, Bruce Lucas sold 114,077 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $2,053,386.00.
• On Monday, April 6th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total transaction of $2,469,285.00.
• On Monday, March 30th, Bruce Lucas sold 135,376 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total transaction of $2,448,951.84.
• On Wednesday, April 1st, Bruce Lucas sold 8,771 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $157,965.71.
• On Tuesday, March 31st, Bruce Lucas sold 247,008 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total transaction of $4,470,844.80.
• On Thursday, March 26th, Bruce Lucas sold 178,733 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $3,224,343.32.
• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total transaction of $1,820,323.04.
• On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.13, for a total transaction of $4,124,575.00.

Slide Insurance Price Performance

Shares of SLDE traded up $0.05 during mid-day trading on Monday, hitting $18.05. 1,984,360 shares of the company were exchanged, compared to its average volume of 2,266,573. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average of $17.76 and a 200-day moving average of $17.12. The stock has a market cap of $2.24 billion and a price-to-earnings ratio of 7.00.

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 for the quarter, topping the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Institutional Trading of Slide Insurance

Large investors have recently bought and sold shares of the business. Comerica Bank boosted its position in shares of Slide Insurance by 3,462.2% during the 4th 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. Price T Rowe Associates Inc. MD boosted its position in shares of Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company's stock valued at $313,000 after acquiring an additional 1,704 shares during the last quarter. CWM LLC acquired a new position in shares of Slide Insurance during the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance in the 3rd quarter valued at approximately $35,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Slide Insurance in the 4th quarter valued at approximately $47,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Texas Capital upgraded shares of Slide Insurance to a "strong-buy" rating in a research report on Wednesday, March 18th. Wall Street Zen downgraded shares of Slide Insurance from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Slide Insurance presently has a consensus rating of "Buy" and an average target price of $24.40.

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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