Squarepoint Ops LLC Invests $2.10 Million in Frontdoor, Inc. (NASDAQ:FTDR)

Squarepoint Ops LLC purchased a new stake in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 38,472 shares of the company's stock, valued at approximately $2,103,000. Squarepoint Ops LLC owned 0.05% of Frontdoor as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Frontdoor by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,674,278 shares of the company's stock valued at $528,893,000 after acquiring an additional 78,134 shares in the last quarter. FIL Ltd grew its holdings in Frontdoor by 8.3% in the fourth quarter. FIL Ltd now owns 2,410,561 shares of the company's stock worth $131,785,000 after purchasing an additional 184,051 shares during the period. Geode Capital Management LLC increased its stake in Frontdoor by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,127,553 shares of the company's stock valued at $116,336,000 after purchasing an additional 14,079 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Frontdoor by 6.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,067,575 shares of the company's stock valued at $113,034,000 after purchasing an additional 122,981 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Frontdoor by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,791,666 shares of the company's stock valued at $97,952,000 after purchasing an additional 10,192 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FTDR. The Goldman Sachs Group reduced 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. JPMorgan Chase & Co. cut Frontdoor from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $58.00 to $40.00 in a research note on Tuesday, April 22nd. Finally, Truist Financial boosted their price objective on Frontdoor from $58.00 to $67.00 and gave the company a "buy" rating in a report on Friday, February 14th.

Frontdoor Stock Up 2.7%

Shares of NASDAQ FTDR traded up $1.49 during mid-day trading on Monday, reaching $56.50. 654,167 shares of the company's stock traded hands, compared to its average volume of 740,011. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day simple moving average of $46.01 and a 200 day simple moving average of $51.08. The stock has a market cap of $4.16 billion, a P/E ratio of 18.71 and a beta of 1.21. Frontdoor, Inc. has a 1-year low of $32.95 and a 1-year high of $63.49.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.27. The business had revenue of $426.00 million for the quarter, compared to analysts' expectations of $416.37 million. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. On average, analysts expect that Frontdoor, Inc. will post 3.07 EPS 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.