Wakefield Asset Management LLLP Trims Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Wakefield Asset Management LLLP lessened its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 23.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,368 shares of the company's stock after selling 6,062 shares during the quarter. Wakefield Asset Management LLLP's holdings in Frontdoor were worth $1,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Versor Investments LP bought a new position in shares of Frontdoor in the fourth quarter worth $1,022,000. Proficio Capital Partners LLC purchased a new position in Frontdoor during the fourth quarter worth about $2,224,000. Oppenheimer & Co. Inc. bought a new position in Frontdoor in the 4th quarter worth about $467,000. Los Angeles Capital Management LLC raised its holdings in shares of Frontdoor by 59.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 101,282 shares of the company's stock valued at $5,537,000 after acquiring an additional 37,583 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. raised its holdings in shares of Frontdoor by 3.2% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 25,540 shares of the company's stock valued at $1,396,000 after acquiring an additional 791 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on FTDR. The Goldman Sachs Group decreased their price objective on shares of Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Monday. Truist Financial increased their price target on shares of Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, February 14th. One 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $50.25.

Remove Ads

Frontdoor Price Performance

NASDAQ:FTDR traded up $1.31 during mid-day trading on Tuesday, reaching $41.98. The stock had a trading volume of 1,129,007 shares, compared to its average volume of 760,529. The stock has a market capitalization of $3.18 billion, a P/E ratio of 13.87 and a beta of 1.08. The firm has a 50 day moving average price of $56.95 and a two-hundred day moving average price of $53.74. 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, Inc. has a one year low of $29.41 and a one year high of $63.49.

Insiders Place Their Bets

In related news, COO Evan Iverson sold 16,000 shares of the 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 in the company, valued at $291,552.20. This represents a 76.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $58.06, for a total value of $1,497,019.04. Following the completion of the transaction, the senior vice president now directly owns 9,429 shares in the company, valued at $547,447.74. This trade represents a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

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.