Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Down 8.2% in December

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

Analysts Set New Price Targets

A number of research firms have commented on FTDR. Truist Financial increased their price target on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. One equities research 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, Frontdoor currently has an average rating of “Hold” and a consensus price target of $49.50.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR traded up $1.48 during trading on Friday, hitting $58.53. The stock had a trading volume of 537,005 shares, compared to its average volume of 479,934. The stock has a 50-day simple moving average of $56.82 and a two-hundred day simple moving average of $49.56. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 19.38 and a beta of 1.08. Frontdoor has a 12-month low of $29.41 and a 12-month 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 announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.05 by $0.33. The business had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. On average, equities research analysts expect that Frontdoor will post 3.14 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $1,497,019.04. Following the completion of the transaction, the senior vice president now owns 9,429 shares in the company, valued at $547,447.74. The trade was a 73.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Evan Iverson sold 16,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $291,552.20. This trade represents a 76.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Frontdoor

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Frontdoor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,113,474 shares of the company’s stock worth $101,442,000 after acquiring an additional 74,542 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 valued at $60,402,000 after buying an additional 89,301 shares in the last quarter. Millennium Management LLC grew its position in shares of Frontdoor by 440.4% in the second quarter. Millennium Management LLC now owns 908,904 shares of the company’s stock valued at $30,712,000 after purchasing an additional 740,711 shares during the period. Glenmede Trust Co. NA lifted its stake in Frontdoor by 1.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 506,328 shares of the company’s stock valued at $24,299,000 after buying an additional 6,189 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Frontdoor by 8.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 448,572 shares of the company’s stock worth $21,527,000 after buying an additional 33,380 shares during the last quarter.

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.