Frontdoor, Inc. (NASDAQ:FTDR) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. cut its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 70.4% during the second quarter, HoldingsChannel.com reports. The firm owned 1,586 shares of the company’s stock after selling 3,765 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Frontdoor were worth $54,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 418 shares during the period. Quarry LP grew its stake in Frontdoor by 468.1% in the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock valued at $37,000 after acquiring an additional 894 shares during the last quarter. Covestor Ltd grew its stake in Frontdoor by 288.6% in the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after acquiring an additional 857 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Frontdoor in the 4th quarter valued at about $71,000. Finally, nVerses Capital LLC acquired a new stake in Frontdoor in the 2nd quarter valued at about $128,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective on shares of Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. William Blair raised shares of Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.75.

Frontdoor Price Performance

Frontdoor stock opened at $47.78 on Friday. Frontdoor, Inc. has a 12-month low of $28.25 and a 12-month high of $49.43. The stock has a market capitalization of $3.72 billion, a P/E ratio of 20.96 and a beta of 1.04. The firm’s 50-day moving average is $46.71 and its two-hundred day moving average is $38.45. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. During the same period last year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts predict that Frontdoor, Inc. will post 2.79 earnings per share 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.