Weiss Asset Management LP Trims Position in Frontdoor, Inc. (NASDAQ:FTDR)

Weiss Asset Management LP decreased its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,709 shares of the company’s stock after selling 69,709 shares during the quarter. Weiss Asset Management LP owned 0.18% of Frontdoor worth $6,513,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FTDR. BOKF NA purchased a new position in shares of Frontdoor during the 2nd quarter worth $493,000. Harbor Capital Advisors Inc. grew its holdings in shares of Frontdoor by 84.0% during the third quarter. Harbor Capital Advisors Inc. now owns 184,408 shares of the company’s stock valued at $8,850,000 after buying an additional 84,167 shares during the last quarter. Natixis Advisors LLC purchased a new stake in shares of Frontdoor in the second quarter valued at approximately $513,000. Meeder Asset Management Inc. increased its position in shares of Frontdoor by 362.8% during the third quarter. Meeder Asset Management Inc. now owns 24,590 shares of the company’s stock worth $1,180,000 after purchasing an additional 19,277 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of Frontdoor by 112.7% in the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock valued at $40,906,000 after purchasing an additional 641,476 shares during the last quarter.

Frontdoor Stock Up 2.7 %

Shares of Frontdoor stock opened at $58.80 on Friday. Frontdoor, Inc. has a twelve month low of $29.41 and a twelve month high of $60.42. 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 $4.46 billion, a price-to-earnings ratio of 19.47 and a beta of 1.08. The business’s 50 day simple moving average is $53.33 and its 200-day simple moving average is $45.13.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The company had revenue of $540.00 million for the quarter, compared to analyst estimates of $541.88 million. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Frontdoor, Inc. will post 3.14 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on FTDR shares. The Goldman Sachs Group upped their price target on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Truist Financial lifted their price objective on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.50.

Frontdoor Company 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.