Assenagon Asset Management S.A. Has $1.41 Million Position in Frontdoor Inc. $FTDR

Assenagon Asset Management S.A. lowered its holdings in Frontdoor Inc. (NASDAQ:FTDR) by 66.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,571 shares of the company’s stock after selling 53,498 shares during the period. Assenagon Asset Management S.A.’s holdings in Frontdoor were worth $1,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FTDR. Boston Partners lifted its stake in Frontdoor by 8.5% in the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after acquiring an additional 454,040 shares in the last quarter. Marshall Wace LLP acquired a new position in Frontdoor in the 3rd quarter valued at approximately $23,871,000. Reinhart Partners LLC. lifted its position in Frontdoor by 25.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock worth $93,987,000 after buying an additional 332,556 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Frontdoor by 309.6% in 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. Finally, Millennium Management LLC boosted its stake in shares of Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after buying an additional 258,920 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FTDR shares. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings cut Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Finally, Benchmark assumed coverage on Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Frontdoor Price Performance

NASDAQ FTDR opened at $78.44 on Thursday. Frontdoor Inc. has a fifty-two week low of $48.47 and a fifty-two week high of $80.05. The stock’s 50-day moving average is $65.82 and its two-hundred day moving average is $61.37. The firm has a market cap of $5.51 billion, a P/E ratio of 22.48 and a beta of 1.46. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47.

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

Frontdoor Company 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.