Allianz Asset Management GmbH Acquires 65,789 Shares of Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Allianz Asset Management GmbH increased its stake in Frontdoor Inc. by 32.9% in Q1, acquiring a total of 265,668 shares valued at approximately $10.2 million.
• JPMorgan Chase & Co. raised their price target on Frontdoor's shares from $50.00 to $55.00 and assigned the stock a "neutral" rating.
• Frontdoor reported $0.64 earnings per share for Q1, surpassing analyst expectations and achieving a 12.7% year-over-year revenue growth.

Allianz Asset Management GmbH raised its holdings in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 32.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 265,668 shares of the company's stock after buying an additional 65,789 shares during the quarter. Allianz Asset Management GmbH owned about 0.36% of Frontdoor worth $10,207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Frontdoor by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 408,982 shares of the company's stock worth $15,713,000 after buying an additional 9,161 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Frontdoor by 16.5% during the first quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after purchasing an additional 347 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Frontdoor by 48.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 24,317 shares of the company's stock valued at $934,000 after purchasing an additional 7,967 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Frontdoor by 775.3% during the first quarter. New York State Common Retirement Fund now owns 212,552 shares of the company's stock valued at $8,166,000 after purchasing an additional 188,268 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Frontdoor during the fourth quarter valued at approximately $8,144,000.

Wall Street Analyst Weigh In

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

Frontdoor Stock Down 0.0%

NASDAQ:FTDR traded down $0.02 during trading hours on Wednesday, reaching $58.36. 677,797 shares of the company traded hands, compared to its average volume of 490,058. The business's 50-day moving average price is $57.39 and its two-hundred day moving average price is $51.44. The stock has a market capitalization of $4.29 billion, a P/E ratio of 18.89 and a beta of 1.28. Frontdoor Inc. has a 1 year low of $35.61 and a 1 year high of $63.49. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 5.88.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.27. The business had revenue of $426.00 million during the quarter, compared to analysts' expectations of $416.37 million. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current 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.