Versor Investments LP Boosts Stake in Frontdoor Inc. $FTDR

Versor Investments LP grew its stake in Frontdoor Inc. (NASDAQ:FTDR) by 126.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,094 shares of the company’s stock after buying an additional 8,994 shares during the period. Versor Investments LP’s holdings in Frontdoor were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System raised its holdings in shares of Frontdoor by 0.9% in the third quarter. Arizona State Retirement System now owns 21,758 shares of the company’s stock worth $1,464,000 after buying an additional 193 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Frontdoor by 4.0% in the fourth quarter. Park Avenue Securities LLC now owns 5,107 shares of the company’s stock worth $295,000 after buying an additional 198 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Frontdoor by 11.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,065 shares of the company’s stock worth $119,000 after buying an additional 217 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Frontdoor by 10.4% in the third quarter. Smartleaf Asset Management LLC now owns 2,470 shares of the company’s stock worth $165,000 after buying an additional 233 shares during the last quarter. Finally, Optivise Advisory Services LLC raised its holdings in shares of Frontdoor by 6.9% in the fourth quarter. Optivise Advisory Services LLC now owns 3,641 shares of the company’s stock worth $210,000 after buying an additional 235 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on FTDR shares. Benchmark started coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target for the company. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings raised shares of Frontdoor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Truist Financial set a $71.00 target price on shares of Frontdoor in a report on Monday, January 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Frontdoor has an average rating of “Moderate Buy” and an average price target of $68.60.

Frontdoor Trading Down 0.5%

Shares of Frontdoor stock opened at $63.47 on Wednesday. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a fifty day moving average price of $61.02 and a 200 day moving average price of $58.63. Frontdoor Inc. has a 1 year low of $48.47 and a 1 year high of $70.77. The stock has a market cap of $4.46 billion, a PE ratio of 18.19 and a beta of 1.55.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $442.28 million. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that Frontdoor Inc. will post 4.48 earnings per share for the current year.

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.