Slide Insurance (NASDAQ:SLDE) Director Sells $97,500.00 in Stock

Key Points

• Director Stephen Rohde sold 5,000 shares on March 4 at an average price of $19.50 for proceeds of $97,500, a transaction disclosed in an SEC filing.
• Strong quarter and current metrics: Slide reported $1.23 EPS vs. $0.87 expected and $347.0M revenue, with the stock trading near $19.47, a market cap of $2.42B and a PE of 14.42.
• Positive analyst and institutional action: Multiple firms raised price targets (consensus target $24.20, "Moderate Buy") while several institutions—including Invesco, Vident and the State of Tennessee Treasury—added or initiated positions.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Stephen Rohde sold 5,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $19.50, for a total value of $97,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Slide Insurance Stock Performance

Shares of Slide Insurance stock traded up $0.06 on Thursday, hitting $19.47. 1,754,134 shares of the company's stock were exchanged, compared to its average volume of 1,548,110. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.30 and a current ratio of 1.34. The company has a 50-day simple moving average of $17.61 and a 200-day simple moving average of $16.38. The stock has a market capitalization of $2.42 billion and a PE ratio of 14.42. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Institutional Trading of Slide Insurance

A number of hedge funds have recently modified their holdings of SLDE. Caitong International Asset Management Co. Ltd grew its position in Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock valued at $49,000 after buying an additional 2,468 shares during the period. Invesco Ltd. boosted its stake in shares of Slide Insurance by 35.1% in the fourth quarter. Invesco Ltd. now owns 20,066 shares of the company's stock worth $391,000 after acquiring an additional 5,212 shares during the last quarter. Vident Advisory LLC acquired a new position in Slide Insurance during the fourth quarter worth about $859,000. State of Tennessee Department of Treasury raised its holdings in Slide Insurance by 29.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 13,479 shares of the company's stock valued at $263,000 after acquiring an additional 3,079 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Slide Insurance in the fourth quarter valued at approximately $1,277,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price 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. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $19.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, November 6th. Morgan Stanley increased their price target on Slide Insurance from $18.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, November 17th. Zacks Research downgraded Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 16th. Finally, Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.

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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