Oppenheimer Asset Management Inc. Decreases Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Oppenheimer Asset Management Inc. reduced its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,350 shares of the company’s stock after selling 1,244 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Frontdoor were worth $894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its position in Frontdoor by 59.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 101,282 shares of the company’s stock worth $5,537,000 after buying an additional 37,583 shares during the last quarter. Blackhawk Capital Partners LLC. raised its position in Frontdoor by 3.2% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 25,540 shares of the company’s stock worth $1,396,000 after buying an additional 791 shares during the last quarter. Principal Financial Group Inc. raised its position in Frontdoor by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 399,821 shares of the company’s stock worth $21,858,000 after buying an additional 11,854 shares during the last quarter. Nkcfo LLC purchased a new position in Frontdoor during the 4th quarter worth approximately $96,000. Finally, Blue Trust Inc. raised 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 buying an additional 1,239 shares during the last quarter.

Insider Activity

In other news, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $58.06, for a total transaction of $1,497,019.04. Following the completion of the transaction, the senior vice president now directly owns 9,429 shares of the company’s stock, valued at $547,447.74. The trade was a 73.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Evan Iverson sold 16,000 shares of Frontdoor stock in a transaction on Wednesday, December 11th. The shares were 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 disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial raised their price target on shares of Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group reduced their price target on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.25.

Frontdoor Price Performance

NASDAQ:FTDR opened at $42.07 on Wednesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 13.93 and a beta of 1.08. The company has a 50 day moving average price of $56.95 and a 200-day moving average price of $53.74. Frontdoor, Inc. has a 1-year low of $29.41 and a 1-year high of $63.49.

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.