Convergence Investment Partners LLC Sells 9,060 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Convergence Investment Partners LLC lowered its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 35.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,534 shares of the company’s stock after selling 9,060 shares during the period. Convergence Investment Partners LLC’s holdings in Frontdoor were worth $904,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Frontdoor by 15.8% in the third quarter. CWM LLC now owns 2,695 shares of the company’s stock valued at $129,000 after acquiring an additional 367 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Frontdoor in the 3rd quarter worth approximately $27,000. Creative Planning lifted its stake in Frontdoor by 21.5% in the third quarter. Creative Planning now owns 19,061 shares of the company’s stock valued at $915,000 after purchasing an additional 3,370 shares during the last quarter. Raymond James & Associates grew its holdings in Frontdoor by 10.1% during the third quarter. Raymond James & Associates now owns 150,298 shares of the company’s stock valued at $7,213,000 after purchasing an additional 13,824 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Frontdoor in the third quarter worth $224,000.

Analyst Ratings Changes

A number of research analysts have recently commented on FTDR shares. The Goldman Sachs Group upped their price target on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Truist Financial upped their price objective on shares of Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.75.

Frontdoor Trading Down 2.0 %

Shares of FTDR stock opened at $58.19 on Thursday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 19.27 and a beta of 1.08. The company’s fifty day simple moving average is $57.68 and its two-hundred day simple moving average is $53.27. Frontdoor, Inc. has a 1 year low of $29.41 and a 1 year high of $63.49. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42.

Insider Activity at Frontdoor

In other Frontdoor news, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor 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 completion of the transaction, the senior vice president now 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 filing with the Securities & Exchange Commission, which is available through this link. Also, 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 approximately $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. 0.89% of the stock is currently owned by corporate insiders.

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.