Renaissance Technologies LLC Boosts Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Renaissance Technologies LLC grew its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 23.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,546,519 shares of the company’s stock after acquiring an additional 291,700 shares during the quarter. Renaissance Technologies LLC owned about 1.99% of Frontdoor worth $52,257,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FTDR. GAMMA Investing LLC increased its position in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 418 shares in the last quarter. Isthmus Partners LLC increased its position in shares of Frontdoor by 0.5% in the second quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock worth $37,000 after acquiring an additional 603 shares in the last quarter. Covestor Ltd raised its stake in shares of Frontdoor by 288.6% in the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after acquiring an additional 857 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Frontdoor during the 4th quarter valued at $71,000. Finally, Quadrant Capital Group LLC boosted its position in Frontdoor by 13.7% during the 4th 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.

Frontdoor Stock Up 0.8 %

FTDR stock opened at $48.79 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.66. The firm has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $36.82. The company has a market capitalization of $3.80 billion, a P/E ratio of 21.40 and a beta of 1.04. Frontdoor, Inc. has a twelve month low of $28.25 and a twelve month high of $49.36.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company had revenue of $542.00 million during the quarter, compared to analyst estimates of $536.74 million. During the same period last year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Frontdoor, Inc. will post 2.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

FTDR has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. Truist Financial lifted their price objective on shares of Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.75.

Frontdoor Company Profile

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.