Skandinaviska Enskilda Banken AB publ Sells 20,200 Shares of Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Skandinaviska Enskilda Banken AB publ has reduced its stake in Frontdoor Inc. by 7.4%, holding now approximately 254,600 shares valued at $9.78 million.
• Vanguard Group Inc. and other institutional investors have increased their positions in Frontdoor, with Vanguard raising its holdings by 0.8% to own 9.67 million shares worth approximately $528.89 million.
• Frontdoor's recent earnings report showed an EPS of $0.64, exceeding predictions, along with a revenue increase of 12.7% year-over-year totaling $426 million.

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,600 shares of the company's stock after selling 20,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.34% of Frontdoor worth $9,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. grew its holdings in Frontdoor by 35,774.4% in the 1st quarter. Assetmark Inc. now owns 29,417 shares of the company's stock valued at $1,130,000 after buying an additional 29,335 shares during the last quarter. Cetera Investment Advisers grew its holdings in Frontdoor by 47.6% in the 1st quarter. Cetera Investment Advisers now owns 8,184 shares of the company's stock valued at $314,000 after buying an additional 2,638 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Frontdoor during the 1st quarter worth approximately $879,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Frontdoor by 401.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 29,826 shares of the company's stock worth $1,146,000 after purchasing an additional 23,873 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Frontdoor by 32.9% during the 1st quarter. Allianz Asset Management GmbH now owns 265,668 shares of the company's stock worth $10,207,000 after purchasing an additional 65,789 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd.

Frontdoor Trading Up 0.7%

Shares of Frontdoor stock traded up $0.43 during trading hours on Wednesday, hitting $58.81. The company's stock had a trading volume of 150,102 shares, compared to its average volume of 739,977. The company has a debt-to-equity ratio of 5.88, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $4.33 billion, a PE ratio of 19.03 and a beta of 1.28. The stock has a 50 day moving average of $57.31 and a 200 day moving average of $51.39. Frontdoor Inc. has a 12 month low of $35.61 and a 12 month high of $63.49.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.64 EPS 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 firm had revenue of $426.00 million during the quarter, compared to analysts' expectations of $416.37 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The business's quarterly revenue was up 12.7% compared to the same quarter last year. Analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current year.

Frontdoor 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.