Slide Announces $75 Million Stock Repurchase Program
Rhea-AI Summary
Slide Insurance Holdings (Nasdaq: SLDE) has announced a significant $75 million stock repurchase program authorized by its Board of Directors. The program, effective immediately, has no time limit and can be modified or suspended at any time.
CEO Bruce Lucas cited the company's strong capital position following their recent IPO and better-than-expected net margins as key factors enabling this initiative. The repurchases may be executed through open market transactions, private negotiations, or other structures compliant with federal securities laws, with timing and volume based on market conditions, liquidity needs, and other factors.
The program will be implemented under Rule 10b5-1, allowing stock repurchases during insider trading blackout periods, though the company is not obligated to purchase any specific number of shares.
Positive
- Authorization of $75 million stock repurchase program indicates strong financial position
- Better than expected net margins reported by the company
- Strong capital position following recent IPO
- Potential increase in return on equity for shareholders
- Flexibility in repurchase timing and execution through Rule 10b5-1 plan
Negative
- No specific timeframe provided for the completion of the buyback program
- Program can be modified, suspended, or discontinued without prior notice
- Company has limited operating history as mentioned in risk factors
News Market Reaction
On the day this news was published, SLDE gained 8.98%, reflecting a notable positive market reaction. Argus tracked a peak move of +9.0% during that session. Our momentum scanner triggered 37 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $151M to the company's valuation, bringing the market cap to $1.84B at that time. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
TAMPA, Fla., Aug. 27, 2025 (GLOBE NEWSWIRE) -- Slide Insurance Holdings, Inc. (“Slide” or the “Company”) (Nasdaq: SLDE) today announced that its Board of Directors has authorized the repurchase of up to
“The initiation of our stock repurchase program is reflective of our strong confidence in our strategic direction, superior underwriting capabilities and well-capitalized balance sheet,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “Slide has a very robust balance sheet from our recent IPO as well as better than expected net margins. As a result, our capital position is very strong and we will use it to repurchase common stock when we believe it is below fair value. Share repurchases at this level provide an excellent opportunity to increase return on equity and build long-term value for our shareholders.”
Share repurchases under the stock repurchase program may be made in the open market at prevailing market prices, through privately negotiated transactions, or through other structures in accordance with applicable federal securities laws, at times and in amounts as management deems appropriate. The timing and the amount of any common stock repurchases will be determined by the Company’s management based on its evaluation of market conditions, the company’s liquidity needs, corporate and regulatory requirements and restrictions, share price, trading volume and other factors. Repurchases of common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the company might otherwise be precluded from doing so under insider trading laws. The repurchase program does not obligate the company to purchase any particular number of shares and may be suspended, modified, or discontinued at any time without prior notice.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “aim,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology and relate, without limitation, to the Company’s beliefs and expectations regarding the Company’s projections of future financial performance including net margins and its share repurchase program and its ability to increase return on equity and build long-term value for shareholders. These statements are only predictions based on Slide’s current expectations and projections about future events and are not guarantees of actual results, level of activity, performance or achievements. Although Slide believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, there are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those anticipated in any forward-looking statements, including, among others, our limited operating history; the success of the Company’s underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; lack of effectiveness of exclusions and loss limitation methods in the insurance policies we assume or write; inherent uncertainty of our models and our reliance on such models as a tool to evaluate risk; the impact of macroeconomic conditions, including declining consumer confidence, inflation, high unemployment and the threat of recession; the impact of new federal and state regulations that affect the property and casualty insurance market and our failure to meet increased regulatory requirements, including minimum capital and surplus requirements; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; performance of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission.
Any forward-looking statement made by Slide in this press release speak only as of the date on which it is made. Slide undertakes no obligation to update any forward-looking statement, whether as a result of new information, actual results, revised expectations or otherwise, except as may be required by law.
About Slide
Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL, Slide was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. For more information, please visit https://www.slideinsurance.com.
Contacts
Investors
ir@slideinsurance.com
Media
Rachel Carr
Chief Marketing Officer
press@slideinsurance.com
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