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

Frontdoor, Inc. (NASDAQ:FTDR - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,490,000 shares, a drop of 22.0% from the April 30th total of 1,910,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 930,600 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Frontdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in FTDR. Janney Montgomery Scott LLC raised its holdings in shares of Frontdoor by 37.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 41,971 shares of the company's stock valued at $2,295,000 after acquiring an additional 11,385 shares during the period. Blue Trust Inc. grew its position in Frontdoor by 332.8% in the 4th quarter. Blue Trust Inc. now owns 1,701 shares of the company's stock worth $93,000 after purchasing an additional 1,308 shares during the last quarter. Pacer Advisors Inc. grew its position in Frontdoor by 4.8% in the 4th quarter. Pacer Advisors Inc. now owns 7,854 shares of the company's stock worth $429,000 after purchasing an additional 357 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Frontdoor by 188.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 76,232 shares of the company's stock worth $4,168,000 after purchasing an additional 49,823 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in Frontdoor in the 4th quarter worth $208,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTDR. Truist Financial boosted their target price on Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, February 14th. The Goldman Sachs Group dropped their price target on shares of Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday.

Frontdoor Trading Down 0.3%

NASDAQ FTDR traded down $0.19 during mid-day trading on Thursday, reaching $56.95. 427,071 shares of the stock were exchanged, compared to its average volume of 735,370. Frontdoor has a 1-year low of $32.95 and a 1-year high of $63.49. The business's fifty day simple moving average is $46.77 and its 200 day simple moving average is $51.16. The stock has a market capitalization of $4.19 billion, a PE ratio of 18.86 and a beta of 1.21. 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 - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.27. The firm had revenue of $426.00 million for the quarter, compared to the consensus estimate of $416.37 million. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, research analysts anticipate that Frontdoor will post 3.07 earnings per share for the current fiscal year.

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.