Empowered Funds LLC Buys Shares of 361,456 Frontdoor Inc. $FTDR

Key Points

• Empowered Funds LLC acquired 361,456 Frontdoor shares worth approximately $28.0 million, representing about 0.52% of the company. Several other institutional investors also increased their positions.
• Frontdoor reported quarterly earnings of $1.93 per share, beating estimates of $1.76, while revenue rose 4.5% year over year to $645 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $92.60; recent targets range from $95 to $105, while the stock opened at $82.82.

Empowered Funds LLC purchased a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 361,456 shares of the company's stock, valued at approximately $28,045,000. Empowered Funds LLC owned about 0.52% of Frontdoor as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Frontdoor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company's stock worth $1,761,000 after purchasing an additional 1,994 shares during the period. Millennium Management LLC boosted its stake in shares of Frontdoor by 533.0% in the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company's stock worth $11,814,000 after buying an additional 258,920 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Frontdoor by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company's stock worth $9,126,000 after buying an additional 13,134 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company's stock worth $47,000 after buying an additional 497 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Frontdoor in the second quarter worth $349,000.

Frontdoor Price Performance

NASDAQ FTDR opened at $82.82 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 3.98. 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 $5.71 billion, a price-to-earnings ratio of 21.97 and a beta of 1.47. The company's 50 day moving average is $77.91 and its two-hundred day moving average is $67.22.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.17. The business had revenue of $645.00 million during the quarter, compared to analyst estimates of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. As a group, research analysts anticipate that Frontdoor Inc. will post 4.67 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Frontdoor in a report on Tuesday, August 18th. JPMorgan Chase & Co. began coverage on shares of Frontdoor in a research report on Monday. They issued a "neutral" rating and a $95.00 price target on the stock. Benchmark lifted their price target on shares of Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Truist Financial lifted their price target on shares of Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Frontdoor in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Frontdoor currently has a consensus rating of "Moderate Buy" and an average target price of $92.60.

About Frontdoor

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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