Short Interest in Frontdoor, Inc. (NASDAQ:FTDR) Grows By 6.9%

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,930,000 shares, a growth of 6.9% from the August 15th total of 2,740,000 shares. Based on an average daily trading volume, of 787,800 shares, the days-to-cover ratio is presently 3.7 days. Currently, 3.9% of the shares of the company are short sold.

Hedge Funds Weigh In On Frontdoor

A number of hedge funds have recently made changes to their positions in FTDR. GAMMA Investing LLC grew its position in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 418 shares during the last quarter. Quarry LP grew its position in Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after purchasing an additional 894 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Frontdoor by 288.6% in the first quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after acquiring an additional 857 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Frontdoor in the fourth quarter valued at about $71,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Frontdoor by 13.7% in the fourth 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 in the last quarter.

Frontdoor Stock Down 0.8 %

NASDAQ FTDR traded down $0.37 on Wednesday, hitting $48.42. The stock had a trading volume of 565,262 shares, compared to its average volume of 742,654. The business’s fifty day moving average price is $43.74 and its 200 day moving average price is $36.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. Frontdoor has a 52-week low of $28.25 and a 52-week high of $49.40. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 21.56 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.00 by $0.27. The company had revenue of $542.00 million for the quarter, compared to analyst estimates of $536.74 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 earnings per share. Equities research analysts anticipate that Frontdoor will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. William Blair raised Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.75.

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.