Point72 Hong Kong Ltd Purchases 7,771 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Point72 Hong Kong Ltd lifted its position in Frontdoor, Inc. (NASDAQ:FTDR) by 3,866.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,972 shares of the company’s stock after buying an additional 7,771 shares during the period. Point72 Hong Kong Ltd’s holdings in Frontdoor were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Reinhart Partners LLC. increased its stake in Frontdoor by 1.8% in the 2nd quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company’s stock worth $78,762,000 after acquiring an additional 42,169 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Frontdoor by 8.7% in the second quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock worth $73,529,000 after purchasing an additional 173,624 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Frontdoor by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock valued at $60,402,000 after purchasing an additional 89,301 shares in the last quarter. Renaissance Technologies LLC lifted its position in Frontdoor by 23.2% during the second quarter. Renaissance Technologies LLC now owns 1,546,519 shares of the company’s stock valued at $52,257,000 after purchasing an additional 291,700 shares during the last quarter. Finally, Swedbank AB grew its stake in Frontdoor by 112.7% in the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock worth $40,906,000 after buying an additional 641,476 shares in the last quarter.

Frontdoor Stock Performance

Frontdoor stock opened at $58.23 on Tuesday. The firm has a fifty day simple moving average of $52.31 and a two-hundred day simple moving average of $44.46. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a twelve month low of $29.41 and a twelve month high of $60.42. The company has a market capitalization of $4.41 billion, a PE ratio of 19.28 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The company had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. During the same period in the prior year, the business posted $0.94 EPS. Frontdoor’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts expect that Frontdoor, Inc. will post 3.14 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on FTDR shares. Truist Financial lifted their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 12th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.50.

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.