Slide Insurance jumps after unveiling maiden stock buyback plan

Slide Insurance Holdings

27/08/2025 16:03

** Coastal insurer Slide Insurance's SLDE.O shares jump as much as 7.9%; last up 6.5% at $13.76

** SLDE unveils its first-ever share buyback plan, saying it would repurchase up to $75 million worth of its stock

** Repurchases may be made in the open market and through privately negotiated transactions

     ** “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,” CEO Bruce Lucas says

** SLDE has 125.5 million outstanding shares for $1.6 billion market cap - LSEG

** 3 of 5 brokerages rate the stock "buy" and 2 "hold"; median PT $25 - data compiled by LSEG

** As of last close, SLDE stock down 24% since its debut in June

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))