Arizona State Retirement System Cuts Position in Frontdoor, Inc. (NASDAQ:FTDR)

Arizona State Retirement System cut its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,459 shares of the company’s stock after selling 811 shares during the period. Arizona State Retirement System’s holdings in Frontdoor were worth $791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP grew its position in Frontdoor by 340.9% in the first quarter. Quarry LP now owns 1,067 shares of the company’s stock worth $30,000 after acquiring an additional 825 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Frontdoor in the fourth quarter worth $49,000. Tower Research Capital LLC TRC lifted its stake in Frontdoor by 44.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock worth $67,000 after purchasing an additional 741 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Frontdoor in the third quarter worth $88,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Frontdoor in the third quarter worth $93,000.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their price target on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.40.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR opened at $29.59 on Thursday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 13.96 and a beta of 0.89. The company has a 50-day moving average price of $31.64 and a 200-day moving average price of $32.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24. Frontdoor, Inc. has a 12 month low of $26.09 and a 12 month high of $38.97.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.02 by $0.18. The firm had revenue of $366.00 million during the quarter, compared to the consensus estimate of $360.47 million. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Frontdoor, Inc. will post 2.35 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.