Meeder Asset Management Inc. Sells 1,824 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Meeder Asset Management Inc. reduced its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 25.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,313 shares of the company’s stock after selling 1,824 shares during the quarter. Meeder Asset Management Inc.’s holdings in Frontdoor were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTDR. Boston Partners boosted its stake in shares of Frontdoor by 19.7% during the 4th quarter. Boston Partners now owns 5,692,326 shares of the company’s stock worth $200,186,000 after acquiring an additional 938,541 shares during the period. Victory Capital Management Inc. lifted its holdings in Frontdoor by 1,152.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,017,473 shares of the company’s stock worth $35,835,000 after purchasing an additional 936,209 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Frontdoor by 315.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 991,370 shares of the company’s stock worth $32,299,000 after purchasing an additional 752,942 shares during the last quarter. Norges Bank acquired a new stake in Frontdoor during the 4th quarter worth approximately $18,725,000. Finally, Vanguard Group Inc. lifted its holdings in Frontdoor by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 9,556,259 shares of the company’s stock worth $292,326,000 after purchasing an additional 413,393 shares during the last quarter.

Frontdoor Price Performance

NASDAQ FTDR traded up $1.03 during midday trading on Monday, hitting $35.78. The company had a trading volume of 886,819 shares, compared to its average volume of 724,429. The company has a market capitalization of $2.78 billion, a PE ratio of 15.69 and a beta of 1.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 3.54. The firm has a 50-day moving average price of $35.19 and a 200-day moving average price of $33.22. Frontdoor, Inc. has a twelve month low of $28.25 and a twelve month high of $38.97.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.23. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. The firm had revenue of $378.00 million during the quarter, compared to analysts’ expectations of $376.36 million. As a group, analysts anticipate that Frontdoor, Inc. will post 2.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their price target on Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.00.

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.