Jennison Associates LLC Sells 6,158 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Jennison Associates LLC lessened its position in shares of Frontdoor, Inc. (NASDAQ:FTDRFree Report) by 16.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,854 shares of the company’s stock after selling 6,158 shares during the period. Jennison Associates LLC’s holdings in Frontdoor were worth $1,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FTDR. Parkside Financial Bank & Trust grew its stake in Frontdoor by 9,892.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock worth $49,000 after purchasing an additional 1,385 shares during the period. Financial Management Professionals Inc. bought a new position in Frontdoor during the fourth quarter worth $49,000. C M Bidwell & Associates Ltd. bought a new position in Frontdoor during the fourth quarter worth $71,000. Quadrant Capital Group LLC grew its holdings in Frontdoor by 13.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock worth $100,000 after purchasing an additional 341 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Frontdoor in the fourth quarter valued at $145,000.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their target price on Frontdoor from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.00.

View Our Latest Report on FTDR

Frontdoor Trading Down 1.6 %

FTDR opened at $33.01 on Wednesday. The firm has a market capitalization of $2.57 billion, a PE ratio of 14.48 and a beta of 1.00. The company has a debt-to-equity ratio of 3.54, a current ratio of 1.14 and a quick ratio of 1.14. Frontdoor, Inc. has a fifty-two week low of $28.25 and a fifty-two week high of $38.97. The company’s 50-day moving average is $35.11 and its 200 day moving average is $33.24.

Frontdoor (NASDAQ:FTDRGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.23. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. The company had revenue of $378.00 million for the quarter, compared to analyst estimates of $376.36 million. As a group, research analysts predict that Frontdoor, Inc. will post 2.52 earnings per share for the current fiscal year.

About Frontdoor

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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