Assenagon Asset Management S.A. Reduces Stock Position in Frontdoor Inc. (NASDAQ:FTDR)

Assenagon Asset Management S.A. trimmed its holdings in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 52.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,483 shares of the company's stock after selling 150,337 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of Frontdoor worth $5,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FTDR. Bessemer Group Inc. grew its position in shares of Frontdoor by 514.7% in the 4th quarter. Bessemer Group Inc. now owns 627 shares of the company's stock valued at $34,000 after buying an additional 525 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Frontdoor by 12.9% in the fourth quarter. TD Private Client Wealth LLC now owns 1,597 shares of the company's stock valued at $87,000 after acquiring an additional 183 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Frontdoor by 315.3% during the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock worth $89,000 after purchasing an additional 1,239 shares during the last quarter. Nkcfo LLC acquired a new stake in shares of Frontdoor during the fourth quarter worth about $96,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Frontdoor by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after purchasing an additional 347 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FTDR shares. The Goldman Sachs Group dropped their price target on Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd.

Frontdoor Stock Performance

Shares of FTDR traded up $0.60 during mid-day trading on Wednesday, hitting $57.34. 205,581 shares of the company's stock were exchanged, compared to its average volume of 779,291. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 5.88. Frontdoor Inc. has a fifty-two week low of $32.95 and a fifty-two week high of $63.49. The business's 50 day moving average is $50.11 and its two-hundred day moving average is $51.09. The firm has a market capitalization of $4.22 billion, a P/E ratio of 18.56 and a beta of 1.27.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.27. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. The company had revenue of $426.00 million for the quarter, compared to the consensus estimate of $416.37 million. During the same period last year, the business posted $0.44 EPS. The company's revenue was up 12.7% on a year-over-year basis. On average, equities analysts expect that Frontdoor Inc. will post 3.07 earnings per share for the current year.

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.