Cubist Systematic Strategies LLC Buys 29,604 Shares of Frontdoor Inc. $FTDR

Key Points

• Cubist Systematic Strategies LLC increased its stake in Frontdoor Inc. by 39.1%, acquiring an additional 29,604 shares, bringing its total to 105,334 shares worth approximately $4,047,000.
• Several analysts updated their price targets for Frontdoor Inc., with JPMorgan Chase raising its target from $50.00 to $55.00, while Truist Financial raised its target from $67.00 to $71.00, reflecting a generally optimistic outlook.
• Frontdoor's latest earnings report showed an EPS of $1.63, exceeding expectations, with quarterly revenue of $617 million, a 13.8% increase compared to the same period last year.

Cubist Systematic Strategies LLC lifted its position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 39.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 105,334 shares of the company's stock after purchasing an additional 29,604 shares during the quarter. Cubist Systematic Strategies LLC owned 0.14% of Frontdoor worth $4,047,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Frontdoor in the first quarter valued at about $42,000. IFP Advisors Inc boosted its holdings in shares of Frontdoor by 80,766.7% in the 1st quarter. IFP Advisors Inc now owns 2,426 shares of the company's stock worth $93,000 after acquiring an additional 2,423 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $94,000 after acquiring an additional 347 shares in the last quarter. CWM LLC grew its position in Frontdoor by 91.2% during the 1st quarter. CWM LLC now owns 2,574 shares of the company's stock worth $99,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Frontdoor by 70.3% during the 1st quarter. Blue Trust Inc. now owns 2,780 shares of the company's stock valued at $107,000 after purchasing an additional 1,148 shares in the last quarter.

Analyst Ratings Changes

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

Insider Transactions at Frontdoor

In other Frontdoor news, SVP Jeffrey Fiarman sold 129,673 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $56.15, for a total value of $7,281,138.95. Following the transaction, the senior vice president directly owned 34,646 shares of the company's stock, valued at approximately $1,945,372.90. This trade represents a 78.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.48% of the company's stock.

Frontdoor Trading Down 3.0%

FTDR stock traded down $1.99 during midday trading on Wednesday, reaching $63.35. The stock had a trading volume of 732,773 shares, compared to its average volume of 633,568. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 18.69 and a beta of 1.34. Frontdoor Inc. has a twelve month low of $35.61 and a twelve month high of $65.46. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 4.56. The business has a fifty day simple moving average of $59.29 and a two-hundred day simple moving average of $51.71.

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

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.