Martingale Asset Management L P Reduces Stake in Frontdoor Inc. $FTDR

Key Points

• Martingale Asset Management L P has reduced its stake in Frontdoor Inc. by 39.1%, holding 27,675 shares valued at approximately $1.06 million as of its most recent SEC filing.
• Frontdoor reported quarterly earnings with an EPS of $1.63, surpassing expectations and showing a 13.8% year-over-year revenue increase to $617 million.
• Brokerage firms have increased their target prices for Frontdoor, with Oppenheimer raising it to $63.00 and Truist Financial to $71.00, indicating a general optimism about the stock's performance.

Martingale Asset Management L P trimmed its position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 39.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,675 shares of the company's stock after selling 17,791 shares during the quarter. Martingale Asset Management L P's holdings in Frontdoor were worth $1,063,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Frontdoor during the 1st quarter valued at approximately $42,000. IFP Advisors Inc boosted its position in Frontdoor by 80,766.7% during the 1st quarter. IFP Advisors Inc now owns 2,426 shares of the company's stock valued at $93,000 after acquiring an additional 2,423 shares in the last quarter. GAMMA Investing LLC boosted its position in Frontdoor by 16.5% during the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after acquiring an additional 347 shares in the last quarter. CWM LLC boosted its position in Frontdoor by 91.2% during the 1st quarter. CWM LLC now owns 2,574 shares of the company's stock valued at $99,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Frontdoor by 70.3% in the 1st quarter. Blue Trust Inc. now owns 2,780 shares of the company's stock worth $107,000 after purchasing an additional 1,148 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer boosted their price target on Frontdoor from $56.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group boosted their price target on Frontdoor from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, August 6th. Finally, Truist Financial boosted their price target on Frontdoor from $67.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $59.75.

Frontdoor Stock Down 2.6%

FTDR traded down $1.60 during trading on Thursday, hitting $60.40. 459,544 shares of the company's stock traded hands, compared to its average volume of 739,899. The company's 50 day simple moving average is $58.48 and its two-hundred day simple moving average is $51.42. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 4.56. Frontdoor Inc. has a 12-month low of $35.61 and a 12-month high of $64.91. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 17.81 and a beta of 1.32.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.44 by $0.19. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%.The business had revenue of $617.00 million for the quarter, compared to the consensus estimate of $602.62 million. During the same period last year, the business posted $1.27 EPS. The company's revenue was up 13.8% compared to the same quarter last year. Frontdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontdoor

In other news, SVP Jeffrey Fiarman sold 129,673 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $56.15, for a total transaction of $7,281,138.95. Following the transaction, the senior vice president directly owned 34,646 shares of the company's stock, valued at $1,945,372.90. This represents a 78.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.48% of the stock is owned by insiders.

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.