Slide Insurance (NASDAQ:SLDE) Director Andrew Pardo Wright Sells 15,000 Shares

Key Points

• Director Andrew Pardo Wright sold 15,000 shares of Slide Insurance on June 26 at an average price of $19.03, totaling $285,450. After the sale, he still held 33,998 shares, and the transaction reduced his stake by 30.61%.
• This was part of a broader pattern of insider selling by Wright, who also sold 31,002 shares on June 24 and several additional blocks in May, indicating repeated trimming of his position.
• Slide Insurance has recently shown strong operating and shareholder-return signals, including a Q1 earnings beat, a $100 million share buyback authorization, and positive analyst sentiment with a consensus “Moderate Buy” rating and $24.80 price target.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.03, for a total transaction of $285,450.00. Following the transaction, the director owned 33,998 shares in the company, valued at approximately $646,981.94. This trade represents a 30.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andrew Pardo Wright also recently made the following trade(s):

• On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total transaction of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total value of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $281,250.00.

Slide Insurance Stock Performance

Shares of SLDE traded up $1.03 during trading hours on Friday, hitting $19.09. The stock had a trading volume of 3,204,372 shares, compared to its average volume of 932,414. The firm has a market capitalization of $2.19 billion and a PE ratio of 5.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $22.15. The stock has a fifty day moving average price of $18.03 and a 200 day moving average price of $17.88.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.20. The company had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

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

Analyst Ratings Changes

SLDE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective 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. Barclays raised their target price on Slide Insurance from $29.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Piper Sandler lifted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Slide Insurance in a report on Wednesday, May 6th. Finally, Zacks Research cut Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Slide Insurance has an average rating of "Moderate Buy" and a consensus price target of $24.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Slide Insurance by 1,151.3% during the first quarter. Janus Henderson Group PLC now owns 172,683 shares of the company's stock valued at $3,108,000 after buying an additional 158,883 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company's stock worth $456,000 after acquiring an additional 2,189 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Slide Insurance by 221.0% during the first quarter. Royal Bank of Canada now owns 5,993 shares of the company's stock worth $109,000 after acquiring an additional 4,126 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Slide Insurance during the first quarter valued at $655,000. Finally, Quantinno Capital Management LP purchased a new position in Slide Insurance during the first quarter valued at $953,000.

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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