Eventide Asset Management LLC Acquires New Stake in Frontdoor Inc. $FTDR

Eventide Asset Management LLC bought a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 483,677 shares of the company’s stock, valued at approximately $28,506,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Engineers Gate Manager LP boosted its position in shares of Frontdoor by 80.3% during the second quarter. Engineers Gate Manager LP now owns 76,274 shares of the company’s stock worth $4,496,000 after buying an additional 33,973 shares during the period. Cubist Systematic Strategies LLC lifted its stake 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 in the last quarter. BNP Paribas Financial Markets lifted its stake in Frontdoor by 4.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 34,126 shares of the company’s stock valued at $2,011,000 after acquiring an additional 1,493 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in Frontdoor in the 2nd quarter valued at $1,257,000. Finally, Bank of America Corp DE lifted its position in Frontdoor by 4.7% during the 2nd quarter. Bank of America Corp DE now owns 699,289 shares of the company’s stock worth $41,216,000 after buying an additional 31,087 shares in the last quarter.

Frontdoor Stock Performance

Shares of FTDR stock opened at $54.71 on Friday. Frontdoor Inc. has a 52 week low of $35.61 and a 52 week high of $70.14. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 15.59 and a beta of 1.32. The company has a 50-day simple moving average of $58.52 and a 200 day simple moving average of $59.55. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.73 and a current ratio of 1.73.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $610.77 million. During the same quarter last year, the business earned $1.38 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

FTDR has been the subject of several analyst reports. Zacks Research cut Frontdoor from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research report on Monday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.75.

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.