Frontdoor (NASDAQ:FTDR) Stock Price Down 10% – Here’s What Happened

Frontdoor, Inc. (NASDAQ:FTDR) dropped 10% during mid-day trading on Thursday . The company traded as low as $51.81 and last traded at $51.44. Approximately 232,853 shares changed hands during trading, a decline of 63% from the average daily volume of 624,226 shares. The stock had previously closed at $57.17.

Analysts Set New Price Targets

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

Frontdoor Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 15.06 and a beta of 1.08. The firm’s fifty day moving average price is $57.46 and its 200 day moving average price is $53.67.

Insiders Place Their Bets

In other Frontdoor news, COO Evan Iverson sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $58.84, for a total transaction of $941,440.00. Following the sale, the chief operating officer now directly owns 4,955 shares in the company, valued at $291,552.20. This represents a 76.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kathryn M. Collins sold 25,784 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $58.06, for a total transaction of $1,497,019.04. Following the sale, the senior vice president now directly owns 9,429 shares in the company, valued at $547,447.74. This represents a 73.22 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontdoor

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in Frontdoor by 514.7% in the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company’s stock valued at $34,000 after purchasing an additional 525 shares during the period. USA Financial Formulas acquired a new position in shares of Frontdoor during the fourth quarter worth about $60,000. TD Private Client Wealth LLC purchased a new stake in shares of Frontdoor during the third quarter worth approximately $68,000. Blue Trust Inc. increased its stake in shares of Frontdoor by 315.3% during the fourth 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 acquired a new stake in Frontdoor in the fourth quarter valued at approximately $96,000.

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.