Frontdoor, Inc. (NASDAQ:FTDR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,349 shares of the company’s stock after selling 9,635 shares during the period. AQR Capital Management LLC owned about 0.10% of Frontdoor worth $2,509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTDR. Nordea Investment Management AB grew its position in Frontdoor by 25.2% during the first quarter. Nordea Investment Management AB now owns 295,885 shares of the company’s stock valued at $9,631,000 after buying an additional 59,572 shares during the period. BOKF NA purchased a new position in Frontdoor during the second quarter valued at $493,000. Goldman Sachs Group Inc. increased its stake in shares of Frontdoor by 44.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 870,440 shares of the company’s stock worth $30,657,000 after purchasing an additional 267,762 shares in the last quarter. Swedbank AB purchased a new stake in shares of Frontdoor during the first quarter worth about $18,542,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Frontdoor by 22.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 125,556 shares of the company’s stock valued at $4,092,000 after buying an additional 23,194 shares in the last quarter.

Analyst Ratings Changes

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

Frontdoor Stock Performance

Shares of Frontdoor stock opened at $47.86 on Wednesday. The business’s 50 day moving average price is $47.03 and its 200 day moving average price is $38.72. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 20.99 and a beta of 1.04. 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, Inc. has a one year low of $28.25 and a one year high of $49.43.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, beating 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 firm had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. During the same quarter in the previous year, the company posted $0.87 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that Frontdoor, Inc. will post 2.79 EPS 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.