Frontdoor, Inc. (NASDAQ:FTDR) Sees Large Decline in Short Interest

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,140,000 shares, a decrease of 8.2% from the December 15th total of 2,330,000 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 580,500 shares, the days-to-cover ratio is presently 3.7 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Truist Financial boosted their price objective on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.50.

Insiders Place Their Bets

In other Frontdoor news, COO Evan Iverson sold 16,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $58.84, for a total transaction of $941,440.00. Following the completion of the sale, the chief operating officer now owns 4,955 shares in the company, valued at approximately $291,552.20. The trade was a 76.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kathryn M. Collins sold 25,784 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $58.06, for a total value of $1,497,019.04. Following the completion of the transaction, the senior vice president now directly owns 9,429 shares in the company, valued at approximately $547,447.74. This trade represents a 73.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Frontdoor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its position in shares of Frontdoor by 84.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 184,408 shares of the company’s stock valued at $8,850,000 after acquiring an additional 84,167 shares during the period. Meeder Asset Management Inc. lifted its stake in Frontdoor by 362.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 24,590 shares of the company’s stock valued at $1,180,000 after purchasing an additional 19,277 shares during the last quarter. Verition Fund Management LLC grew its holdings in Frontdoor by 255.5% during the third quarter. Verition Fund Management LLC now owns 21,757 shares of the company’s stock worth $1,044,000 after purchasing an additional 15,637 shares during the period. Atria Investments Inc acquired a new position in Frontdoor during the third quarter worth approximately $315,000. Finally, Geode Capital Management LLC raised its stake in Frontdoor by 3.7% in the third quarter. Geode Capital Management LLC now owns 2,113,474 shares of the company’s stock valued at $101,442,000 after buying an additional 74,542 shares during the period.

Frontdoor Trading Up 2.6 %

NASDAQ:FTDR opened at $58.53 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor has a twelve month low of $29.41 and a twelve month high of $60.42. The company has a market cap of $4.44 billion, a P/E ratio of 19.38 and a beta of 1.08. The business has a 50 day moving average price of $56.82 and a two-hundred day moving average price of $49.78.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.33. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The business had revenue of $540.00 million during the quarter, compared to the consensus estimate of $541.88 million. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts expect that Frontdoor will post 3.14 EPS for the current fiscal year.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.