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

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,950,000 shares, a drop of 10.3% from the March 15th total of 3,290,000 shares. Currently, 3.8% of the company’s stock are sold short. Based on an average daily trading volume, of 749,400 shares, the short-interest ratio is currently 3.9 days.

Frontdoor Stock Down 0.9 %

FTDR opened at $29.95 on Wednesday. The company has a 50 day moving average of $31.69 and a 200 day moving average of $32.71. The company has a market cap of $2.34 billion, a PE ratio of 14.13 and a beta of 0.89. Frontdoor has a 12 month low of $26.09 and a 12 month high of $38.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.02 by $0.18. The company had revenue of $366.00 million during the quarter, compared to the consensus estimate of $360.47 million. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. Frontdoor’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. On average, sell-side analysts expect that Frontdoor will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price objective on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.40.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its holdings in Frontdoor by 10.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 80,624 shares of the company’s stock valued at $2,627,000 after purchasing an additional 7,401 shares during the period. Reinhart Partners LLC. boosted its holdings in Frontdoor by 15.4% in the 1st quarter. Reinhart Partners LLC. now owns 2,288,768 shares of the company’s stock valued at $74,568,000 after purchasing an additional 304,645 shares during the period. Vanguard Group Inc. boosted its holdings in Frontdoor by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 9,806,048 shares of the company’s stock valued at $345,369,000 after purchasing an additional 249,789 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Frontdoor by 44.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 870,440 shares of the company’s stock valued at $30,657,000 after purchasing an additional 267,762 shares during the period. Finally, FIL Ltd boosted its holdings in Frontdoor by 7.3% in the 4th quarter. FIL Ltd now owns 2,016,300 shares of the company’s stock valued at $71,014,000 after purchasing an additional 137,500 shares during the period.

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.