Algert Global LLC Acquires 51,214 Shares of Frontdoor Inc. $FTDR

Algert Global LLC increased its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,233 shares of the company’s stock after purchasing an additional 51,214 shares during the quarter. Algert Global LLC owned 0.36% of Frontdoor worth $17,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board grew its stake in shares of Frontdoor by 11.7% in the third quarter. Public Sector Pension Investment Board now owns 316,564 shares of the company’s stock worth $21,302,000 after acquiring an additional 33,261 shares during the period. Creative Planning raised its holdings in shares of Frontdoor by 53.4% during the second quarter. Creative Planning now owns 35,806 shares of the company’s stock valued at $2,110,000 after purchasing an additional 12,457 shares during the last quarter. Nordea Investment Management AB lifted its position in Frontdoor by 3.7% during the third quarter. Nordea Investment Management AB now owns 274,407 shares of the company’s stock valued at $18,293,000 after purchasing an additional 9,880 shares during the period. Federated Hermes Inc. boosted its holdings in Frontdoor by 978.0% in the third quarter. Federated Hermes Inc. now owns 154,980 shares of the company’s stock worth $10,429,000 after purchasing an additional 140,604 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Frontdoor in the second quarter worth approximately $7,440,000.

Frontdoor Price Performance

Shares of Frontdoor stock opened at $63.20 on Friday. Frontdoor Inc. has a 52 week low of $35.61 and a 52 week high of $70.77. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 4.73. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 18.53 and a beta of 1.31. The stock’s 50-day simple moving average is $60.13 and its 200-day simple moving average is $60.28.

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

Analyst Ratings Changes

FTDR has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. Truist Financial set a $71.00 price target on Frontdoor in a research note on Monday, January 26th. The Goldman Sachs Group raised 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 report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Finally, Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently 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.