Algert Global LLC Sells 59,421 Shares of Frontdoor Inc. $FTDR

Key Points

• Algert Global reduced its Frontdoor stake by 15% in the second quarter, selling 59,421 shares and retaining 336,634 shares worth approximately $26.1 million.
• Institutional ownership was mixed, with Swedbank, California State Teachers Retirement System, and Bessemer Group increasing their positions, while BlackRock acquired a new stake valued at about $859.6 million.
• Analyst sentiment remains favorable, with Frontdoor receiving a “Moderate Buy” consensus rating and an average price target of $92.60. The company also exceeded quarterly earnings expectations, reporting $1.93 in EPS and $645 million in revenue.

Algert Global LLC lessened its position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 336,634 shares of the company's stock after selling 59,421 shares during the quarter. Algert Global LLC owned approximately 0.49% of Frontdoor worth $26,119,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of FTDR. Swedbank AB increased its stake in Frontdoor by 6.0% in the 4th quarter. Swedbank AB now owns 1,283,600 shares of the company's stock valued at $74,051,000 after buying an additional 73,000 shares during the last quarter. California State Teachers Retirement System lifted its position in Frontdoor by 20.2% during the 1st quarter. California State Teachers Retirement System now owns 82,866 shares of the company's stock worth $4,380,000 after buying an additional 13,941 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Frontdoor during the 1st quarter worth about $1,793,000. BlackRock Inc. acquired a new position in shares of Frontdoor during the 2nd quarter worth about $859,552,000. Finally, Bessemer Group Inc. grew its holdings in shares of Frontdoor by 38.2% in the 1st quarter. Bessemer Group Inc. now owns 110,559 shares of the company's stock valued at $5,844,000 after acquiring an additional 30,576 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Frontdoor in a research report on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on Frontdoor in a research report on Monday. They set a "neutral" rating and a $95.00 price target for the company. Wolfe Research upgraded Frontdoor to an "outperform" rating in a research note on Monday. Weiss Ratings restated a "buy (b-)" rating on shares of Frontdoor in a research note on Tuesday, August 18th. Finally, Truist Financial boosted their price target on Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.60.

Frontdoor Stock Performance

FTDR opened at $82.75 on Tuesday. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $93.43. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 21.95 and a beta of 1.47. The business has a 50 day moving average of $77.12 and a 200-day moving average of $66.67. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. During the same period in the previous year, the company posted $1.63 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Frontdoor Inc. will post 4.66 earnings per share for the current year.

Frontdoor Profile

Frontdoor, Inc NASDAQ: FTDR is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.

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