Frontdoor Inc. $FTDR Position Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in Frontdoor Inc. (NASDAQ:FTDR) by 51.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,473 shares of the company’s stock after selling 11,153 shares during the period. Maryland State Retirement & Pension System’s holdings in Frontdoor were worth $705,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FTDR. Broad Bay Capital Management LP acquired a new stake in shares of Frontdoor in the second quarter valued at $46,886,000. Eventide Asset Management LLC bought a new stake in Frontdoor in the second quarter worth about $28,506,000. Cubist Systematic Strategies LLC lifted its holdings in Frontdoor by 309.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after acquiring an additional 326,112 shares during the last quarter. Millennium Management LLC boosted its position in shares of Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after purchasing an additional 258,920 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Frontdoor by 148.1% in the 2nd quarter. Schroder Investment Management Group now owns 386,559 shares of the company’s stock worth $22,784,000 after purchasing an additional 230,743 shares during the last quarter.

Frontdoor Trading Up 4.1%

Frontdoor stock opened at $60.77 on Thursday. Frontdoor Inc. has a 52 week low of $35.61 and a 52 week high of $70.14. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 17.31 and a beta of 1.31. The company has a 50 day moving average price of $55.83 and a 200 day moving average price of $59.77.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Wednesday, November 5th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.09. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $610.77 million. Frontdoor had a net margin of 12.87% and a return on equity of 122.74%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. Research analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FTDR shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Frontdoor in a research note on Monday, December 29th. Zacks Research downgraded Frontdoor from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.75.

Frontdoor Profile

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.