Y Intercept Hong Kong Ltd Decreases Stock Position in Frontdoor, Inc. (NASDAQ:FTDR)

Y Intercept Hong Kong Ltd cut its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 70.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,653 shares of the company’s stock after selling 29,777 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Frontdoor were worth $607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Frontdoor in the 3rd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Frontdoor in the 3rd quarter worth about $31,000. Isthmus Partners LLC boosted its position in shares of Frontdoor by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock worth $37,000 after buying an additional 603 shares in the last quarter. Quarry LP lifted its holdings in Frontdoor by 468.1% in the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock valued at $37,000 after purchasing an additional 894 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Frontdoor by 89.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,667 shares of the company’s stock valued at $80,000 after purchasing an additional 788 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FTDR. Truist Financial upped their target price on shares of Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their target price on shares of Frontdoor from $41.00 to $46.00 and gave the company 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $49.50.

Frontdoor Price Performance

NASDAQ:FTDR opened at $58.93 on Friday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 19.51 and a beta of 1.08. Frontdoor, Inc. has a 12-month low of $29.41 and a 12-month high of $60.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The company’s 50-day moving average is $54.46 and its two-hundred day moving average is $46.02.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $541.88 million. During the same period last year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts expect that Frontdoor, Inc. will post 3.14 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $941,440.00. Following the sale, the chief operating officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

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.