Point72 DIFC Ltd Sells 5,781 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Point72 DIFC Ltd reduced its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 65.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,053 shares of the company’s stock after selling 5,781 shares during the quarter. Point72 DIFC Ltd’s holdings in Frontdoor were worth $103,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Frontdoor by 25.2% during the first quarter. Nordea Investment Management AB now owns 295,885 shares of the company’s stock worth $9,631,000 after acquiring an additional 59,572 shares during the period. BOKF NA bought a new position in shares of Frontdoor during the 2nd quarter worth $493,000. Allianz Asset Management GmbH increased its stake in shares of Frontdoor by 775.6% during the fourth quarter. Allianz Asset Management GmbH now owns 270,189 shares of the company’s stock valued at $9,516,000 after buying an additional 239,333 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Frontdoor by 44.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 870,440 shares of the company’s stock valued at $30,657,000 after acquiring an additional 267,762 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Frontdoor in the first quarter worth about $18,542,000.

Analyst Ratings Changes

FTDR has been the subject of several recent research reports. William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Finally, Truist Financial lifted their price target on shares of Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Frontdoor has an average rating of “Hold” and a consensus price target of $47.75.

Frontdoor Stock Down 1.8 %

Frontdoor stock opened at $47.11 on Wednesday. The business’s 50-day simple moving average is $45.92 and its two-hundred day simple moving average is $38.04. The company has a market cap of $3.66 billion, a PE ratio of 20.66 and a beta of 1.04. Frontdoor, Inc. has a fifty-two week low of $28.25 and a fifty-two week high of $49.43. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27.

Frontdoor (NASDAQ:FTDR) last issued its 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. The firm had revenue of $542.00 million during the quarter, compared to analysts’ expectations of $536.74 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. Equities analysts anticipate that Frontdoor, Inc. will post 2.79 EPS for the current year.

About Frontdoor

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.