Public Sector Pension Investment Board Has $10.59 Million Stock Position in Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• The Public Sector Pension Investment Board increased its stake in Frontdoor Inc. by 45.8%, acquiring an additional 86,622 shares, bringing its total ownership to approximately 0.37% worth $10,587,000.
• Insider activity saw SVP Jeffrey Fiarman sell 129,673 shares at an average price of $56.15, significantly reducing his ownership by 78.92%.
• Recent analyst ratings have resulted in mixed reactions, with Truist Financial raising its target price to $71.00 while Goldman Sachs maintained a 'sell' rating, increasing their target to $50.00.

Public Sector Pension Investment Board lifted its stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 45.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,569 shares of the company's stock after purchasing an additional 86,622 shares during the period. Public Sector Pension Investment Board owned 0.37% of Frontdoor worth $10,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of Frontdoor by 514.7% in the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company's stock valued at $34,000 after purchasing an additional 525 shares in the last quarter. IFP Advisors Inc grew its holdings in Frontdoor by 80,766.7% during the 1st quarter. IFP Advisors Inc now owns 2,426 shares of the company's stock worth $93,000 after acquiring an additional 2,423 shares during the period. GAMMA Investing LLC grew its holdings in Frontdoor by 16.5% during the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock worth $94,000 after acquiring an additional 347 shares during the period. CWM LLC grew its holdings in Frontdoor by 91.2% during the 1st quarter. CWM LLC now owns 2,574 shares of the company's stock worth $99,000 after acquiring an additional 1,228 shares during the period. Finally, Blue Trust Inc. grew its holdings in Frontdoor by 70.3% during the 1st quarter. Blue Trust Inc. now owns 2,780 shares of the company's stock worth $107,000 after acquiring an additional 1,148 shares during the period.

Insiders Place Their Bets

In other Frontdoor news, SVP Jeffrey Fiarman sold 129,673 shares of Frontdoor stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $56.15, for a total value of $7,281,138.95. Following the completion of the sale, the senior vice president directly owned 34,646 shares of the company's stock, valued at approximately $1,945,372.90. The trade was a 78.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.48% of the stock is owned by corporate insiders.

Frontdoor Trading Down 0.3%

Shares of FTDR stock traded down $0.18 during trading hours on Friday, hitting $58.89. 656,948 shares of the company's stock traded hands, compared to its average volume of 726,615. The stock's 50 day simple moving average is $57.98 and its 200 day simple moving average is $51.36. The stock has a market cap of $4.29 billion, a PE ratio of 17.37 and a beta of 1.32. Frontdoor Inc. has a 12 month low of $35.61 and a 12 month high of $64.91. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 4.56.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.19. Frontdoor had a net margin of 13.07% and a return on equity of 125.21%. The firm had revenue of $617.00 million during the quarter, compared to the consensus estimate of $602.62 million. During the same quarter last year, the firm earned $1.27 earnings per share. The company's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Frontdoor Inc. will post 3.07 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on FTDR. Oppenheimer lifted their target price on shares of Frontdoor from $56.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Truist Financial lifted their price target on shares of Frontdoor from $67.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research report on Wednesday, August 6th.

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.