Frontdoor Inc. $FTDR Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its Frontdoor stake by 27.3% in the first quarter, selling 42,185 shares and retaining 112,249 shares valued at approximately $5.9 million.
• Other institutional investors increased their positions, including Boston Partners, Reinhart Partners, Cubist Systematic Strategies and Millennium Management, with Millennium expanding its stake by 533%.
• Analysts maintain a “Moderate Buy” consensus with a $74.75 average price target. Frontdoor also exceeded quarterly estimates, reporting $0.73 in EPS and $451 million in revenue, up 5.9% year over year.

First Trust Advisors LP lessened its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,249 shares of the company's stock after selling 42,185 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of Frontdoor worth $5,933,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Boston Partners grew its position in shares of Frontdoor by 8.5% in the fourth quarter. Boston Partners now owns 5,777,252 shares of the company's stock valued at $333,742,000 after purchasing an additional 454,040 shares during the period. Marshall Wace LLP purchased a new position in Frontdoor during the third quarter worth about $23,871,000. Reinhart Partners LLC. lifted its position in Frontdoor by 25.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company's stock worth $93,987,000 after buying an additional 332,556 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Frontdoor by 309.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company's stock worth $25,429,000 after buying an additional 326,112 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in 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.

Analyst Upgrades and Downgrades

Several analysts have commented on FTDR shares. Truist Financial set a $82.00 price target on Frontdoor in a report on Friday, July 24th. Weiss Ratings lowered shares of Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Frontdoor has an average rating of "Moderate Buy" and a consensus price target of $74.75.

Frontdoor Price Performance

Shares of NASDAQ FTDR opened at $72.63 on Monday. The stock has a market capitalization of $5.10 billion, a PE ratio of 20.81 and a beta of 1.46. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 4.95. The firm has a fifty day moving average of $70.99 and a 200-day moving average of $63.99. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week 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 the consensus estimate of $0.66 by $0.07. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The business had revenue of $451.00 million for the quarter, compared to analyst estimates of $442.28 million. During the same period last year, the company posted $0.64 EPS. The business's quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts anticipate that Frontdoor Inc. will post 4.48 EPS for the current year.

Frontdoor Company 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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