Convergence Investment Partners LLC Sells 9,060 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Convergence Investment Partners LLC decreased its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,534 shares of the company’s stock after selling 9,060 shares during the quarter. Convergence Investment Partners LLC’s holdings in Frontdoor were worth $904,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new stake in Frontdoor during the third quarter valued at $27,000. USA Financial Formulas bought a new stake in Frontdoor in the fourth quarter worth approximately $60,000. TD Private Client Wealth LLC acquired a new position in Frontdoor in the third quarter valued at approximately $68,000. Blue Trust Inc. grew its position in shares of Frontdoor by 315.3% during the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock worth $89,000 after buying an additional 1,239 shares during the period. Finally, Nkcfo LLC bought a new position in Frontdoor during the fourth quarter worth $96,000.

Insiders Place Their Bets

In related news, SVP Kathryn M. Collins sold 25,784 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $547,447.74. This trade represents a 73.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Evan Iverson sold 16,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total transaction of $941,440.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

FTDR has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Truist Financial boosted their price objective on Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.75.

Frontdoor Trading Down 2.0 %

FTDR opened at $58.19 on Thursday. Frontdoor, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $63.49. The firm has a market capitalization of $4.41 billion, a PE ratio of 19.27 and a beta of 1.08. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. The company’s 50-day moving average is $57.68 and its 200 day moving average is $53.27.

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.