Slide Insurance (NASDAQ:SLDE) COO Sells 8,450 Shares

Key Points

• COO Shannon Lucas sold a total of about 169,296 Slide Insurance shares across April–early May (including 8,450 shares on May 1 at $18.77), generating roughly $3.13 million and reducing her stake by 0.64% to 1,314,780 shares.
• Slide reported stronger-than-expected quarterly results ($1.02 EPS vs. $0.82 est., 38.9% net margin) and the board approved a $100 million share repurchase plan (≈4.3% of shares), while the stock trades around $18.43 with a consensus analyst price target near $24.80.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) COO Shannon Lucas sold 8,450 shares of Slide Insurance stock in a transaction on Friday, May 1st. The shares were sold at an average price of $18.77, for a total transaction of $158,606.50. Following the completion of the sale, the chief operating officer owned 1,314,780 shares in the company, valued at $24,678,420.60. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $125,495.36.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total value of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total value of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $253,125.00.
• On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The stock was sold at an average price of $19.55, for a total value of $228,265.80.
• On Tuesday, April 14th, Shannon Lucas sold 18,874 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $340,486.96.
• On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The shares were sold at an average price of $18.05, for a total transaction of $462,459.05.
• 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 transaction of $490,219.59.
• On Wednesday, April 8th, Shannon Lucas sold 12,008 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total transaction 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 value of $203,094.00.

Slide Insurance Stock Performance

NASDAQ:SLDE traded down $0.19 on Monday, hitting $18.43. The company's stock had a trading volume of 1,466,513 shares, compared to its average volume of 1,723,868. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The firm has a market capitalization of $2.11 billion and a P/E ratio of 5.12. The stock has a fifty day moving average of $18.19 and a two-hundred day moving average of $17.42. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. Slide Insurance had a return on equity of 50.01% and a net margin of 38.86%.The business had revenue of $389.28 million during the quarter. Research analysts predict that Slide Insurance Holdings, Inc. will post 3.36 earnings per share for the current year.

Slide Insurance declared that its board has approved a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen cut Slide Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. 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 note on Thursday, February 26th. Zacks Research lowered shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Barclays lifted their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new position in shares of Slide Insurance during the second quarter valued at about $2,245,000. Legal & General Group Plc acquired a new stake in shares of Slide Insurance in the 2nd quarter worth about $216,000. Norges Bank bought a new position in Slide Insurance in the 2nd quarter valued at about $866,000. Marshall Wace LLP bought a new position in Slide Insurance in the 2nd quarter valued at about $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new position in Slide Insurance during the 2nd quarter valued at about $834,000.

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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