Frontdoor Inc. $FTDR Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Frontdoor stake by 5.5% in the first quarter, selling 25,926 shares and retaining 444,230 shares worth approximately $23.5 million.
• Frontdoor reported quarterly earnings of $0.73 per share, exceeding estimates of $0.66, while revenue rose 5.9% year over year to $451 million.
• FTDR shares opened at $74.28, near the analyst consensus price target of $74.75. Analysts maintain a “Moderate Buy” consensus, with a recent Truist price target of $82.

Bank of New York Mellon Corp reduced its stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 444,230 shares of the company's stock after selling 25,926 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Frontdoor worth $23,482,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Trust Co. NA increased its stake in Frontdoor by 256.3% during the 4th quarter. Private Trust Co. NA now owns 563 shares of the company's stock worth $32,000 after buying an additional 405 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company's stock worth $47,000 after acquiring an additional 497 shares during the last quarter. Quarry LP lifted its stake in shares of Frontdoor by 429.5% in the third quarter. Quarry LP now owns 879 shares of the company's stock worth $59,000 after acquiring an additional 713 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Frontdoor by 8,376.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company's stock worth $64,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Wexford Capital LP purchased a new position in Frontdoor in the third quarter valued at about $106,000.

Frontdoor Stock Performance

Frontdoor stock opened at $74.28 on Wednesday. The company has a market cap of $5.22 billion, a PE ratio of 21.28 and a beta of 1.46. The company has a fifty day moving average price of $70.28 and a two-hundred day moving average price of $63.72. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $80.73.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The company had revenue of $451.00 million for the quarter, compared to analysts' expectations of $442.28 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. Research analysts expect that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FTDR shares. Truist Financial set a $82.00 target price on Frontdoor in a research report on Friday. Weiss Ratings lowered shares of Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Frontdoor presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

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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