Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Update

Frontdoor, Inc. (NASDAQ:FTDR) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 2,530,000 shares, a decrease of 10.3% from the November 15th total of 2,820,000 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average daily volume of 585,100 shares, the days-to-cover ratio is presently 4.3 days.

Frontdoor Stock Performance

FTDR traded down $0.06 during mid-day trading on Tuesday, reaching $57.71. 208,020 shares of the company traded hands, compared to its average volume of 701,159. The company’s fifty day moving average price is $54.67 and its 200-day moving average price is $46.26. The stock has a market capitalization of $4.38 billion, a P/E ratio of 19.13 and a beta of 1.08. Frontdoor has a 52-week low of $29.41 and a 52-week high of $60.42. 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 (NASDAQ:FTDR) last posted its quarterly earnings data 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 return on equity of 132.99% and a net margin of 12.87%. The firm had revenue of $540.00 million for the quarter, compared to analysts’ expectations of $541.88 million. During the same period in the previous year, the firm earned $0.94 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that Frontdoor will post 3.14 EPS for the current year.

Insider Buying and Selling at Frontdoor

In other news, SVP Kathryn M. Collins sold 25,784 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 9,429 shares in the company, valued at approximately $547,447.74. The trade was a 73.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Evan Iverson sold 16,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total value of $941,440.00. Following the completion of the sale, the chief operating officer now owns 4,955 shares of the company’s stock, valued at approximately $291,552.20. This trade represents a 76.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Frontdoor

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in shares of Frontdoor by 8.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock valued at $73,529,000 after purchasing an additional 173,624 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 74,542 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Frontdoor by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock worth $60,402,000 after purchasing an additional 89,301 shares during the period. Renaissance Technologies LLC grew its holdings in Frontdoor by 23.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,546,519 shares of the company’s stock valued at $52,257,000 after purchasing an additional 291,700 shares during the last quarter. Finally, Millennium Management LLC raised its position in Frontdoor by 440.4% in the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company’s stock worth $30,712,000 after purchasing an additional 740,711 shares during the period.

Wall Street Analyst Weigh In

Several analysts have weighed in on FTDR shares. Truist Financial lifted 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. The Goldman Sachs Group boosted their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.50.

About Frontdoor

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.