Victory Capital Management Inc. Has $3.21 Million Holdings in Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Victory Capital Management Inc. significantly reduced its stake in Frontdoor Inc. by 92.1% in the first quarter, owning only 0.11% of the company valued at $3.21 million after selling nearly 979,000 shares.
• Other large investors, including New York State Common Retirement Fund, increased their positions in Frontdoor, with the latter raising its stake by 775.3% during the same period.
• Frontdoor reported earnings of $0.64 per share for the latest quarter, surpassing analyst expectations and showing a 12.7% increase in revenue compared to the previous year.

Victory Capital Management Inc. reduced its stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 92.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,605 shares of the company's stock after selling 978,976 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Frontdoor worth $3,212,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Frontdoor by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 408,982 shares of the company's stock valued at $15,713,000 after purchasing an additional 9,161 shares during the last quarter. GAMMA Investing LLC increased 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 during the period. Oppenheimer Asset Management Inc. increased 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 during the period. New York State Common Retirement Fund increased 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 during the period. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Frontdoor during the fourth quarter valued at approximately $8,144,000.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective 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 Performance

FTDR opened at $58.98 on Monday. The stock has a market cap of $4.34 billion, a PE ratio of 19.09 and a beta of 1.28. 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 Inc. has a 1 year low of $35.61 and a 1 year high of $63.49. The stock's 50 day simple moving average is $57.24 and its 200-day simple moving average is $51.37.

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 analysts' consensus estimates of $0.37 by $0.27. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. The firm had revenue of $426.00 million for the quarter, compared to analysts' expectations of $416.37 million. During the same period in the prior year, the business posted $0.44 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. Sell-side analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current 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.

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