Tyers Asset Management LLC Takes $513,000 Position in Frontdoor Inc (NASDAQ:FTDR)

Tyers Asset Management LLC purchased a new stake in shares of Frontdoor Inc (NASDAQ:FTDR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,776 shares of the company’s stock, valued at approximately $513,000.

Other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas grew its stake in Frontdoor by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 673,709 shares of the company’s stock valued at $29,340,000 after purchasing an additional 20,900 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of Frontdoor in the second quarter worth about $1,431,000. Xact Kapitalforvaltning AB lifted its position in shares of Frontdoor by 41.7% in the second quarter. Xact Kapitalforvaltning AB now owns 11,900 shares of the company’s stock worth $518,000 after buying an additional 3,500 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Frontdoor in the first quarter worth about $297,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Frontdoor by 55.1% in the second quarter. Russell Investments Group Ltd. now owns 323,073 shares of the company’s stock worth $14,066,000 after buying an additional 114,708 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

FTDR traded up $0.34 on Friday, hitting $51.62. 9,958 shares of the stock traded hands, compared to its average volume of 517,584. Frontdoor Inc has a 52 week low of $20.66 and a 52 week high of $53.29. The firm has a market capitalization of $4.12 billion and a PE ratio of 29.25. The business has a fifty day moving average price of $49.10 and a two-hundred day moving average price of $41.08.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.23. Frontdoor had a negative return on equity of 44.16% and a net margin of 10.57%. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $387.49 million. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Frontdoor Inc will post 1.84 earnings per share for the current fiscal year.

FTDR has been the subject of a number of analyst reports. Guggenheim boosted their price target on Frontdoor from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Buckingham Research cut Frontdoor from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Wednesday, July 31st. Oppenheimer boosted their price objective on Frontdoor from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. SunTrust Banks set a $50.00 price objective on Frontdoor and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Raymond James boosted their price objective on Frontdoor from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $47.30.

Frontdoor Company Profile

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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