Mackenzie Financial Corp Cuts Stock Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Mackenzie Financial Corp reduced its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,411,423 shares of the company's stock after selling 1,808,283 shares during the period. Mackenzie Financial Corp owned 4.28% of Frontdoor worth $120,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Jackson Creek Investment Advisors LLC purchased a new position in Frontdoor in the 3rd quarter worth approximately $822,000. Reinhart Partners LLC. lifted its holdings in Frontdoor by 11.0% in the 4th quarter. Reinhart Partners LLC. now owns 1,984,123 shares of the company's stock worth $69,881,000 after purchasing an additional 197,019 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Frontdoor by 500.6% in the 3rd quarter. Lazard Asset Management LLC now owns 45,158 shares of the company's stock worth $1,381,000 after purchasing an additional 37,639 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Frontdoor in the 3rd quarter worth approximately $88,000. Finally, FMR LLC increased its stake in Frontdoor by 0.3% in the 3rd quarter. FMR LLC now owns 581,862 shares of the company's stock worth $17,799,000 after acquiring an additional 1,839 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their price objective on Frontdoor from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.40.

Frontdoor Price Performance

NASDAQ:FTDR traded down $0.26 during trading hours on Tuesday, reaching $29.95. The stock had a trading volume of 659,054 shares, compared to its average volume of 741,762. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.10 and a current ratio of 1.10. Frontdoor, Inc. has a 52 week low of $26.09 and a 52 week high of $38.97. The company has a 50 day moving average price of $31.74 and a two-hundred day moving average price of $32.72. The stock has a market capitalization of $2.34 billion, a PE ratio of 14.14 and a beta of 0.89.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.18. The firm had revenue of $366.00 million for the quarter, compared to the consensus estimate of $360.47 million. Frontdoor had a return on equity of 142.80% and a net margin of 9.66%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, sell-side analysts anticipate that Frontdoor, Inc. will post 2.35 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.