Citigroup Inc. Sells 39,763 Shares of Frontdoor Inc. $FTDR

Citigroup Inc. trimmed its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 40.7% during the third quarter, Holdings Channel.com reports. The fund owned 57,986 shares of the company’s stock after selling 39,763 shares during the quarter. Citigroup Inc.’s holdings in Frontdoor were worth $3,902,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Broad Bay Capital Management LP bought a new position in shares of Frontdoor during the second quarter valued at about $46,886,000. Eventide Asset Management LLC purchased a new stake in Frontdoor in the 2nd quarter valued at about $28,506,000. Cubist Systematic Strategies LLC lifted its position in shares of Frontdoor by 309.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock worth $25,429,000 after buying an additional 326,112 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Frontdoor by 533.0% in the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after buying an additional 258,920 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Frontdoor by 148.1% in the second quarter. Schroder Investment Management Group now owns 386,559 shares of the company’s stock valued at $22,784,000 after acquiring an additional 230,743 shares in the last quarter.

Frontdoor Stock Down 1.8%

FTDR stock opened at $67.90 on Thursday. The stock has a fifty day moving average of $59.12 and a 200-day moving average of $60.02. Frontdoor Inc. has a fifty-two week low of $35.61 and a fifty-two week high of $70.77. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 19.91 and a beta of 1.31. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $421.62 million. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. As a group, equities research analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial set a $71.00 price target on Frontdoor in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Wall Street Zen raised shares of Frontdoor from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Oppenheimer restated an “outperform” rating and set a $70.00 price target on shares of Frontdoor in a research report on Thursday, February 26th. Finally, The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $67.00 in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Frontdoor has a consensus rating of “Hold” and a consensus target price of $65.75.

Frontdoor Profile

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.