Price T Rowe Associates Inc. MD Lowers Holdings in Frontdoor Inc (NASDAQ:FTDR)

Price T Rowe Associates Inc. MD trimmed its position in Frontdoor Inc (NASDAQ:FTDR) by 89.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,145 shares of the company’s stock after selling 8,714,397 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.24% of Frontdoor worth $45,647,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its position in Frontdoor by 5.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,044 shares of the company’s stock valued at $264,000 after buying an additional 293 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Frontdoor by 2.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 19,310 shares of the company’s stock valued at $841,000 after buying an additional 385 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Frontdoor by 8.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,526 shares of the company’s stock valued at $546,000 after buying an additional 934 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its position in Frontdoor by 1.5% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 65,853 shares of the company’s stock valued at $2,868,000 after buying an additional 996 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in Frontdoor by 2.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 49,492 shares of the company’s stock valued at $2,155,000 after buying an additional 1,107 shares during the last quarter. Hedge funds and other institutional investors own 94.78% of the company’s stock.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Frontdoor from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research report on Saturday, August 10th. Guggenheim boosted their target price on shares of Frontdoor from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Buckingham Research lowered shares of Frontdoor from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research report on Wednesday, July 31st. Raymond James boosted their target price on shares of Frontdoor from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Finally, Oppenheimer boosted their target price on shares of Frontdoor from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.24.

Shares of NASDAQ FTDR traded up $0.83 during trading on Friday, hitting $49.52. 4,986 shares of the company were exchanged, compared to its average volume of 452,404. The company has a market cap of $4.08 billion and a price-to-earnings ratio of 27.98. Frontdoor Inc has a 1 year low of $20.66 and a 1 year high of $53.29. The firm’s fifty day moving average price is $50.62 and its 200 day moving average price is $42.78.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.23. The business had revenue of $388.00 million during the quarter, compared to the consensus estimate of $387.49 million. Frontdoor had a negative return on equity of 44.16% and a net margin of 10.57%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts forecast that Frontdoor Inc will post 1.84 earnings per share for the current year.

About Frontdoor

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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