Renaissance Technologies LLC Raises Position in Frontdoor Inc. $FTDR

Renaissance Technologies LLC increased its stake in Frontdoor Inc. (NASDAQ:FTDR) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,849,787 shares of the company’s stock after purchasing an additional 23,800 shares during the quarter. Renaissance Technologies LLC owned approximately 2.63% of Frontdoor worth $97,780,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Frontdoor by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after buying an additional 1,994 shares during the period. Millennium Management LLC lifted its position in shares of Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after buying an additional 258,920 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Frontdoor by 10.5% during the 1st quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after acquiring an additional 1,044 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Frontdoor by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock worth $9,126,000 after acquiring an additional 13,134 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings cut Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Truist Financial set a $82.00 target price on shares of Frontdoor in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Frontdoor Price Performance

Frontdoor stock opened at $71.49 on Friday. Frontdoor Inc. has a one year low of $48.47 and a one year high of $80.73. The business has a fifty day moving average price of $69.85 and a 200-day moving average price of $63.47. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $5.02 billion, a P/E ratio of 20.48 and a beta of 1.46.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The company had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities research analysts forecast that Frontdoor Inc. will post 4.48 EPS for the current year.

About Frontdoor

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.