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

Frontdoor, Inc. (NASDAQ:FTDR) saw a large decrease in short interest in 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 short-interest ratio is currently 4.3 days. Approximately 3.4% of the company’s shares are short sold.

Frontdoor Price Performance

Shares of FTDR stock traded down $0.15 during trading hours on Tuesday, hitting $57.62. The company had a trading volume of 500,856 shares, compared to its average volume of 702,433. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 19.08 and a beta of 1.08. Frontdoor has a 12 month low of $29.41 and a 12 month high of $60.42. The firm’s fifty day moving average is $54.67 and its 200 day moving average is $46.26. 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 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. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. During the same quarter last year, the company posted $0.94 earnings per share. Frontdoor’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts predict that Frontdoor will post 3.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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 increased their price objective on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Frontdoor has a consensus rating of “Hold” and a consensus target price of $49.50.

Insider Activity

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 transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 $547,447.74. This 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.

Institutional Trading of Frontdoor

Several hedge funds have recently added to or reduced their stakes in FTDR. Exchange Traded Concepts LLC bought a new stake in shares of Frontdoor in the 3rd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in shares of Frontdoor in the 3rd quarter worth approximately $31,000. Isthmus Partners LLC boosted its stake in 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. Quarry LP boosted its stake in Frontdoor by 468.1% in the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after purchasing an additional 894 shares in the last quarter. Finally, TD Private Client Wealth LLC acquired a new stake in Frontdoor during the 3rd quarter valued at approximately $68,000.

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.