Frontdoor, Inc. (NASDAQ:FTDR) Sees Significant Drop in Short Interest

Frontdoor, Inc. (NASDAQ:FTDR) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 2,530,000 shares, a decline of 10.3% from the November 15th total of 2,820,000 shares. Based on an average trading volume of 585,100 shares, the short-interest ratio is presently 4.3 days. Approximately 3.4% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, COO Evan Iverson sold 16,000 shares of the firm’s stock in a transaction 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 owns 4,955 shares in the company, valued at approximately $291,552.20. This trade represents a 76.35 % decrease in their ownership of the stock. 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 company’s stock in a transaction 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 owns 9,429 shares of the company’s stock, valued at approximately $547,447.74. The trade was a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Trading of Frontdoor

Several institutional investors have recently added to or reduced their stakes in FTDR. Diversified Trust Co grew its stake in shares of Frontdoor by 2.5% in the 3rd quarter. Diversified Trust Co now owns 12,130 shares of the company’s stock valued at $582,000 after buying an additional 299 shares during the period. CWM LLC raised its position in shares of Frontdoor by 15.8% during the third quarter. CWM LLC now owns 2,695 shares of the company’s stock worth $129,000 after purchasing an additional 367 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Frontdoor during the third quarter worth approximately $27,000. Isthmus Partners LLC lifted its holdings 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 purchasing an additional 603 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Frontdoor in the 3rd quarter valued at $31,000.

Frontdoor Stock Performance

Shares of NASDAQ FTDR traded down $0.06 during trading hours on Tuesday, reaching $57.71. 208,020 shares of the stock were exchanged, compared to its average volume of 701,159. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The stock’s fifty day simple moving average is $54.67 and its 200 day simple moving average is $46.26. Frontdoor has a 52 week low of $29.41 and a 52 week high of $60.42. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 19.13 and a beta of 1.08.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.33. The company had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. Frontdoor’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. Sell-side analysts predict that Frontdoor will post 3.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on FTDR shares. Truist Financial raised their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontdoor currently has an average rating of “Hold” and a consensus target price of $49.50.

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.