Millennium Management LLC Sells 71,989 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Millennium Management LLC lowered its position in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 59.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,577 shares of the company's stock after selling 71,989 shares during the quarter. Millennium Management LLC owned approximately 0.06% of Frontdoor worth $2,656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Frontdoor by 514.7% during the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company's stock worth $34,000 after purchasing an additional 525 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Frontdoor by 12.9% during the fourth quarter. TD Private Client Wealth LLC now owns 1,597 shares of the company's stock worth $87,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. grew its stake in shares of Frontdoor by 315.3% during the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock worth $89,000 after purchasing an additional 1,239 shares during the period. Nkcfo LLC acquired a new stake in shares of Frontdoor during the fourth quarter worth $96,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Frontdoor by 360.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,484 shares of the company's stock worth $136,000 after purchasing an additional 1,945 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday. Truist Financial lifted their price objective on Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group decreased their target price on Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Monday, March 3rd.

Frontdoor Trading Up 0.5%

NASDAQ:FTDR traded up $0.30 on Wednesday, reaching $57.14. The company's stock had a trading volume of 347,413 shares, compared to its average volume of 737,181. Frontdoor, Inc. has a 1-year low of $32.95 and a 1-year high of $63.49. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $4.20 billion, a PE ratio of 18.92 and a beta of 1.21. The business's 50-day moving average price is $46.77 and its two-hundred day moving average price is $51.16.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its earnings results 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. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. 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 previous year, the firm earned $0.44 earnings per share. The company's revenue was up 12.7% on a year-over-year basis. Equities research analysts anticipate that Frontdoor, Inc. will post 3.07 earnings per share for the current fiscal 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.