Horizon Investments LLC Reduces Position in Frontdoor Inc. $FTDR

Horizon Investments LLC trimmed its position in Frontdoor Inc. (NASDAQ:FTDR) by 35.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,919 shares of the company’s stock after selling 12,950 shares during the period. Horizon Investments LLC’s holdings in Frontdoor were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FTDR. Oppenheimer Asset Management Inc. raised its stake in shares of Frontdoor by 8.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,062 shares of the company’s stock worth $1,215,000 after purchasing an additional 1,594 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Frontdoor by 20.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,599 shares of the company’s stock valued at $2,515,000 after buying an additional 7,344 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in Frontdoor by 28.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 25,459 shares of the company’s stock worth $1,469,000 after buying an additional 5,563 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Frontdoor by 41.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 41,743 shares of the company’s stock worth $2,426,000 after buying an additional 12,255 shares during the period. Finally, Private Trust Co. NA raised its position in Frontdoor by 256.3% during the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after buying an additional 405 shares during the last quarter.

Frontdoor Trading Up 0.3%

Frontdoor stock opened at $66.12 on Thursday. The firm has a market cap of $4.64 billion, a PE ratio of 18.95 and a beta of 1.55. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $70.77. The stock’s 50 day simple moving average is $60.75 and its two-hundred day simple moving average is $58.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The firm had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. During the same period in the previous year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Analysts anticipate that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTDR has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Frontdoor in a report on Thursday, February 26th. Benchmark started coverage on Frontdoor in a research report on Thursday, March 26th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Truist Financial set a $71.00 price objective on Frontdoor in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.60.

About Frontdoor

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.