Mirae Asset Global Investments Co. Ltd. Acquires 980 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 2.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,049 shares of the company’s stock after purchasing an additional 980 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Frontdoor were worth $1,305,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTDR. State Street Corp lifted its holdings in shares of Frontdoor by 110.0% during the 2nd quarter. State Street Corp now owns 2,943,484 shares of the company’s stock worth $70,879,000 after acquiring an additional 1,541,616 shares during the period. Morgan Stanley lifted its holdings in shares of Frontdoor by 191.3% during the 4th quarter. Morgan Stanley now owns 2,142,677 shares of the company’s stock worth $44,568,000 after acquiring an additional 1,407,001 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Frontdoor by 15.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,758,236 shares of the company’s stock worth $178,581,000 after acquiring an additional 1,172,788 shares during the period. Hudson Bay Capital Management LP bought a new position in Frontdoor during the 1st quarter valued at about $27,880,000. Finally, BlackRock Inc. boosted its position in Frontdoor by 5.9% in the second quarter. BlackRock Inc. now owns 13,891,766 shares of the company’s stock valued at $443,147,000 after buying an additional 769,145 shares in the last quarter.

Frontdoor Price Performance

Shares of Frontdoor stock opened at $30.47 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 14.37 and a beta of 0.89. Frontdoor, Inc. has a 1-year low of $26.09 and a 1-year high of $38.97. The firm’s 50-day moving average price is $31.54 and its two-hundred day moving average price is $32.72.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.18. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. The firm had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $360.47 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts predict that Frontdoor, Inc. will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price objective on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Frontdoor currently has an average rating of “Hold” and a consensus target price of $39.40.

About Frontdoor

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.