Y Intercept Hong Kong Ltd Reduces Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Y Intercept Hong Kong Ltd lowered its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 53.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,953 shares of the company’s stock after selling 6,700 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Frontdoor were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of Frontdoor by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 399,821 shares of the company’s stock valued at $21,858,000 after acquiring an additional 11,854 shares during the last quarter. Nkcfo LLC acquired a new stake in shares of Frontdoor in the 4th quarter valued at about $96,000. Blue Trust Inc. boosted its position in shares of Frontdoor by 315.3% in the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock valued at $89,000 after purchasing an additional 1,239 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Frontdoor in the 4th quarter valued at about $298,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Frontdoor in the 4th quarter valued at about $1,434,000.

Wall Street Analyst Weigh In

FTDR has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Monday. Truist Financial upped 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 assigned 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 an average rating of “Hold” and a consensus price target of $50.25.

Insiders Place Their Bets

In other Frontdoor news, SVP Kathryn M. Collins sold 25,784 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 9,429 shares of the company’s stock, valued at approximately $547,447.74. This trade represents a 73.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Evan Iverson sold 16,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total value of $941,440.00. Following 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. 0.29% of the stock is owned by insiders.

Frontdoor Stock Down 10.6 %

Frontdoor stock opened at $40.67 on Tuesday. Frontdoor, Inc. has a twelve month low of $29.41 and a twelve month high of $63.49. The stock has a 50 day moving average of $57.24 and a two-hundred day moving average of $53.78. 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 $3.08 billion, a price-to-earnings ratio of 13.47 and a beta of 1.08.

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.