Exchange Traded Concepts LLC Invests $27,000 in Frontdoor, Inc. (NASDAQ:FTDR)

Exchange Traded Concepts LLC bought a new stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 569 shares of the company’s stock, valued at approximately $27,000.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC grew its stake in Frontdoor by 440.4% during the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company’s stock worth $30,712,000 after buying an additional 740,711 shares during the last quarter. Swedbank AB increased its holdings in shares of Frontdoor by 112.7% during the second quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock valued at $40,906,000 after acquiring an additional 641,476 shares in the last quarter. Boston Partners increased its holdings in shares of Frontdoor by 8.9% during the first quarter. Boston Partners now owns 6,198,543 shares of the company’s stock valued at $201,662,000 after acquiring an additional 506,217 shares in the last quarter. Invenomic Capital Management LP raised its position in shares of Frontdoor by 57.3% in the 1st quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company’s stock valued at $34,940,000 after purchasing an additional 390,610 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Frontdoor by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock worth $331,636,000 after purchasing an additional 373,091 shares in the last quarter.

Frontdoor Trading Up 0.1 %

NASDAQ FTDR opened at $50.01 on Thursday. Frontdoor, Inc. has a 1 year low of $28.25 and a 1 year high of $53.10. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $3.89 billion, a PE ratio of 21.93 and a beta of 1.04. The company has a fifty day moving average of $48.42 and a 200 day moving average of $40.12.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.27. The firm had revenue of $542.00 million for the quarter, compared to the consensus estimate of $536.74 million. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. Research analysts forecast that Frontdoor, Inc. will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FTDR shares. JPMorgan Chase & Co. raised their price target on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Truist Financial raised their target price on Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.75.

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.