Short Interest in Frontdoor, Inc. (NASDAQ:FTDR) Drops By 10.3%

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a large 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. Based on an average daily volume of 585,100 shares, the days-to-cover ratio is presently 4.3 days. Approximately 3.4% of the shares of the stock are short sold.

Frontdoor Stock Down 0.3 %

Frontdoor stock traded down $0.15 during mid-day trading on Tuesday, hitting $57.62. The company had a trading volume of 500,851 shares, compared to its average volume of 702,433. Frontdoor has a 1 year low of $29.41 and a 1 year high of $60.42. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 19.08 and a beta of 1.08. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The business has a fifty day moving average of $54.67 and a 200 day moving average of $46.26.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating 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 firm had revenue of $540.00 million during the quarter, compared to the consensus estimate of $541.88 million. During the same quarter in the prior year, the firm earned $0.94 EPS. Frontdoor’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that Frontdoor will post 3.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted 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. Truist Financial increased their price objective on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.50.

Insider Activity at Frontdoor

In other Frontdoor news, COO Evan Iverson sold 16,000 shares of Frontdoor stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $58.84, for a total transaction of $941,440.00. Following the transaction, the chief operating officer now directly owns 4,955 shares of the company’s stock, valued at $291,552.20. The trade was a 76.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kathryn M. Collins sold 25,784 shares of the 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 sale, 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. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontdoor

A number of large investors have recently bought and sold shares of the company. Summit Global Investments raised its holdings in Frontdoor by 4.3% during the second quarter. Summit Global Investments now owns 41,332 shares of the company’s stock worth $1,397,000 after purchasing an additional 1,720 shares in the last quarter. Legato Capital Management LLC grew its holdings in Frontdoor by 49.4% during the second quarter. Legato Capital Management LLC now owns 23,332 shares of the company’s stock worth $788,000 after acquiring an additional 7,718 shares during the period. Panagora Asset Management Inc. purchased a new position in Frontdoor in the second quarter worth $2,019,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Frontdoor by 1.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 415,192 shares of the company’s stock worth $14,029,000 after acquiring an additional 5,470 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Frontdoor during the 2nd quarter worth $158,000.

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.