Magnetar Financial LLC Makes New Investment in Frontdoor Inc. $FTDR

Key Points

• Magnetar Financial LLC purchased 10,273 shares of Frontdoor Inc. in Q1, valued at approximately $395,000, indicating institutional interest in the company's stock.
• Frontdoor's stock opened at $60.75 and has experienced a 1-year price range between $35.61 and $64.91.
• The company reported $1.63 EPS for the latest quarter, exceeding analysts' estimates, with revenue growing 13.8% year-over-year.

Magnetar Financial LLC bought a new position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,273 shares of the company's stock, valued at approximately $395,000.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Frontdoor by 2.3% during the first quarter. Principal Financial Group Inc. now owns 408,982 shares of the company's stock worth $15,713,000 after buying an additional 9,161 shares during the period. GAMMA Investing LLC raised its stake in Frontdoor by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock worth $94,000 after acquiring an additional 347 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Frontdoor by 48.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,317 shares of the company's stock worth $934,000 after acquiring an additional 7,967 shares during the last quarter. New York State Common Retirement Fund raised its stake in Frontdoor by 775.3% in the 1st quarter. New York State Common Retirement Fund now owns 212,552 shares of the company's stock worth $8,166,000 after acquiring an additional 188,268 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Frontdoor by 126.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 138,646 shares of the company's stock worth $5,327,000 after acquiring an additional 77,330 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Frontdoor from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, August 6th. Zacks Research upgraded Frontdoor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 27th. Oppenheimer lifted their price objective on Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Truist Financial lifted their price objective on Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Frontdoor currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.75.

Insider Transactions at Frontdoor

In related news, SVP Jeffrey Fiarman sold 129,673 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $56.15, for a total transaction of $7,281,138.95. Following the completion of the transaction, the senior vice president directly owned 34,646 shares of the company's stock, valued at $1,945,372.90. This represents a 78.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.48% of the stock is owned by corporate insiders.

Frontdoor Trading Down 0.4%

Shares of FTDR stock traded down $0.24 during trading on Friday, hitting $63.05. 568,282 shares of the stock traded hands, compared to its average volume of 620,431. The firm has a market capitalization of $4.59 billion, a P/E ratio of 18.60 and a beta of 1.34. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.49 and a quick ratio of 1.49. The firm's fifty day moving average price is $58.94 and its 200-day moving average price is $51.52. Frontdoor Inc. has a 52-week low of $35.61 and a 52-week high of $64.91.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.19. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%.The company had revenue of $617.00 million for the quarter, compared to analyst estimates of $602.62 million. During the same quarter in the previous year, the company earned $1.27 earnings per share. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. Frontdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts forecast that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

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.