Short Interest in Frontdoor, Inc. (NASDAQ:FTDR) Declines By 8.2%

Frontdoor, Inc. (NASDAQ:FTDR) saw a large drop in short interest in the month of 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. Approximately 2.8% of the company’s stock are sold short. Based on an average trading volume of 580,500 shares, the short-interest ratio is currently 3.7 days.

Frontdoor Price Performance

FTDR stock traded up $1.48 during trading on Friday, hitting $58.53. 537,005 shares of the company’s stock traded hands, compared to its average volume of 479,934. Frontdoor has a 52 week low of $29.41 and a 52 week high of $60.42. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 19.38 and a beta of 1.08. The business has a fifty day simple moving average of $56.82 and a 200 day simple moving average of $49.56. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS 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 firm 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 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts expect that Frontdoor will post 3.14 EPS for the current fiscal year.

Insider Activity at Frontdoor

In related news, COO Evan Iverson sold 16,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total transaction of $941,440.00. Following the sale, the chief operating officer now directly owns 4,955 shares of the company’s stock, valued at $291,552.20. This trade represents a 76.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kathryn M. Collins sold 25,784 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was 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 of the company’s stock, 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. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontdoor

Several institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new position in Frontdoor in the 3rd quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in Frontdoor in the 3rd quarter worth about $31,000. Quarry LP lifted its holdings in Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock valued at $37,000 after buying an additional 894 shares in the last quarter. USA Financial Formulas purchased a new stake in Frontdoor in the 4th quarter valued at about $60,000. Finally, TD Private Client Wealth LLC purchased a new stake in Frontdoor in the 3rd quarter valued at about $68,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FTDR shares. The Goldman Sachs Group increased their price target on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Truist Financial lifted their target price on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.