Frontdoor Inc. $FTDR Position Cut by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in Frontdoor Inc. (NASDAQ:FTDR) by 83.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,974 shares of the company’s stock after selling 188,098 shares during the quarter. Allianz Asset Management GmbH owned about 0.05% of Frontdoor worth $2,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FTDR. Broad Bay Capital Management LP acquired a new position in shares of Frontdoor in the 2nd quarter valued at $46,886,000. Fiera Capital Corp boosted its stake in shares of Frontdoor by 2.1% during the 2nd quarter. Fiera Capital Corp now owns 744,718 shares of the company’s stock worth $43,894,000 after acquiring an additional 15,295 shares in the last quarter. Bank of America Corp DE raised its position in shares of Frontdoor by 4.7% in the second quarter. Bank of America Corp DE now owns 699,289 shares of the company’s stock valued at $41,216,000 after purchasing an additional 31,087 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of Frontdoor by 18.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 627,791 shares of the company’s stock valued at $42,244,000 after purchasing an additional 97,565 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Frontdoor by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 530,518 shares of the company’s stock valued at $31,269,000 after acquiring an additional 4,265 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FTDR shares. Weiss Ratings restated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Truist Financial set a $71.00 price target on shares of Frontdoor in a research note on Monday, January 26th. Finally, Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.75.

Frontdoor Stock Down 0.7%

Shares of FTDR opened at $56.28 on Thursday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.73 and a current ratio of 1.73. The firm’s 50-day simple moving average is $57.66 and its 200 day simple moving average is $59.75. Frontdoor Inc. has a 52 week low of $35.61 and a 52 week high of $70.14. The firm has a market cap of $4.06 billion, a P/E ratio of 16.03 and a beta of 1.34.

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.