Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Update

Frontdoor, Inc. (NASDAQ:FTDR) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 2,920,000 shares, a drop of 6.7% from the June 30th total of 3,130,000 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average trading volume of 714,400 shares, the short-interest ratio is currently 4.1 days.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company boosted their price target on Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Frontdoor Stock Performance

Shares of NASDAQ FTDR traded down $0.23 during mid-day trading on Wednesday, reaching $39.46. 1,932,410 shares of the company were exchanged, compared to its average volume of 739,471. The stock has a market capitalization of $3.07 billion, a P/E ratio of 17.31 and a beta of 1.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.54. The company’s 50-day simple moving average is $35.54 and its 200-day simple moving average is $33.54. Frontdoor has a twelve month low of $28.25 and a twelve month high of $40.48.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.23. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. The company had revenue of $378.00 million during the quarter, compared to analysts’ expectations of $376.36 million. As a group, research analysts predict that Frontdoor will post 2.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its position in shares of Frontdoor by 0.7% in the first quarter. Illinois Municipal Retirement Fund now owns 46,552 shares of the company’s stock valued at $1,517,000 after buying an additional 321 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Frontdoor by 13.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after acquiring an additional 341 shares during the period. Tidal Investments LLC grew its holdings in shares of Frontdoor by 2.2% during the 1st quarter. Tidal Investments LLC now owns 15,740 shares of the company’s stock worth $513,000 after purchasing an additional 344 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Frontdoor by 5.3% during the 4th quarter. Meeder Asset Management Inc. now owns 7,137 shares of the company’s stock worth $251,000 after purchasing an additional 359 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Frontdoor by 90.7% in the second quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock valued at $30,000 after purchasing an additional 418 shares in the last quarter.

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.