IMC Chicago LLC Takes $583,000 Position in Frontdoor Inc. $FTDR

IMC Chicago LLC purchased a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,517 shares of the company’s stock, valued at approximately $583,000.

Other institutional investors also recently modified their holdings of the company. Boston Partners raised its position in Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after purchasing an additional 454,040 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Frontdoor in the 2nd quarter valued at about $33,812,000. Marshall Wace LLP acquired a new stake in shares of Frontdoor in the third quarter valued at about $23,871,000. Reinhart Partners LLC. increased its stake in shares of Frontdoor by 25.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock valued at $93,987,000 after buying an additional 332,556 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of Frontdoor by 309.6% during the second quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock worth $25,429,000 after acquiring an additional 326,112 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Frontdoor in a research note on Friday, August 7th. Weiss Ratings lowered shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Oppenheimer raised their price target on shares of Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Truist Financial boosted their price target on shares of Frontdoor from $82.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Benchmark upped their price objective on shares of Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Frontdoor has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Frontdoor Stock Performance

Shares of FTDR stock opened at $86.47 on Monday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 22.94 and a beta of 1.47. Frontdoor Inc. has a 52 week low of $48.47 and a 52 week high of $93.43. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98. The firm has a 50 day moving average of $75.25 and a 200-day moving average of $65.66.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.17. The company had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. Frontdoor’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 EPS. On average, equities analysts forecast that Frontdoor Inc. will post 4.66 earnings per share for the current year.

Frontdoor Company Profile

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.