Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 17,075 Shares

Key Points

• COO Shannon Lucas sold 52,659 shares of Slide Insurance (NASDAQ:SLDE) across early March (including a 17,075-share sale on March 5), generating roughly $988,037 in proceeds; she still holds about 1.63 million shares after these disclosures.
• Company fundamentals and analyst sentiment remain positive: Slide reported a quarterly earnings beat ($1.23 EPS vs. $0.87 est.) on $347M revenue, the stock trades around $17.70 with a P/E of ~6.9 and a $2.2B market cap, and analysts have pushed price targets higher to a consensus of $24.40 ("Moderate Buy").

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) COO Shannon Lucas sold 17,075 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $19.37, for a total transaction of $330,742.75. Following the completion of the transaction, the chief operating officer directly owned 1,632,925 shares in the company, valued at $31,629,757.25. This represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $213,291.00.
• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The stock was sold at an average price of $18.59, for a total transaction of $444,003.56.

Slide Insurance Stock Performance

NASDAQ SLDE traded down $0.78 on Monday, hitting $17.70. The stock had a trading volume of 2,983,290 shares, compared to its average volume of 1,682,143. The company's 50-day moving average is $17.55 and its two-hundred day moving average is $16.45. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The stock has a market cap of $2.20 billion and a price-to-earnings ratio of 6.86. 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 (NASDAQ:SLDE - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.36. The business had revenue of $347.01 million for the quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, November 17th. Piper Sandler lifted their price target on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Monday. Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Slide Insurance in a report on Friday, December 26th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Slide Insurance currently has an average rating of "Moderate Buy" and a consensus price target of $24.40.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently modified their holdings of SLDE. Capital World Investors boosted its stake in shares of Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company's stock worth $70,767,000 after acquiring an additional 1,483,180 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Slide Insurance by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company's stock worth $53,800,000 after purchasing an additional 354,321 shares during the period. American Century Companies Inc. purchased a new stake in shares of Slide Insurance during the second quarter valued at $56,229,000. Balyasny Asset Management L.P. lifted its holdings in shares of Slide Insurance by 27.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company's stock valued at $34,250,000 after purchasing an additional 380,161 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Slide Insurance in the 2nd quarter valued at $33,063,000.

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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