Frontdoor, Inc. (NASDAQ:FTDR) Position Lessened by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP reduced its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of Frontdoor during the fourth quarter worth approximately $60,000. TD Private Client Wealth LLC acquired a new position in Frontdoor during the 3rd quarter worth $68,000. Blue Trust Inc. boosted its position in Frontdoor by 315.3% during the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock worth $89,000 after acquiring an additional 1,239 shares during the period. Nkcfo LLC bought a new position in shares of Frontdoor in the fourth quarter worth $96,000. Finally, GAMMA Investing LLC increased its holdings in shares of Frontdoor by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 2,100 shares of the company’s stock valued at $115,000 after purchasing an additional 433 shares during the period.

Frontdoor Price Performance

NASDAQ:FTDR opened at $46.09 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The business’s 50-day moving average price is $57.46 and its 200 day moving average price is $53.67. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $63.49. The firm has a market cap of $3.49 billion, a P/E ratio of 15.26 and a beta of 1.08.

Insider Activity

In other news, COO Evan Iverson sold 16,000 shares of the stock in a transaction on 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 owns 4,955 shares in the company, valued at approximately $291,552.20. This represents a 76.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction 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 owns 9,429 shares in the company, valued at $547,447.74. The trade was a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FTDR. The Goldman Sachs Group upped their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Truist Financial upped their price target on shares of Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.75.

Frontdoor Profile

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.