Man Group plc Buys Shares of 41,211 Frontdoor Inc. $FTDR

Man Group plc purchased a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,211 shares of the company’s stock, valued at approximately $3,198,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Frontdoor in the 2nd quarter worth about $859,552,000. Jupiter Topco LLC acquired a new position in shares of Frontdoor during the 2nd quarter valued at about $113,873,000. Boston Partners lifted its holdings in shares of Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after acquiring an additional 454,040 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Frontdoor during the 2nd quarter worth about $33,812,000. Finally, Danske Bank A S acquired a new stake in shares of Frontdoor in the second quarter worth approximately $28,742,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FTDR shares. Weiss Ratings restated a “buy (b-)” rating on shares of Frontdoor in a report on Tuesday, August 18th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th. Benchmark upped their price objective on Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Truist Financial lifted their target price on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Oppenheimer boosted their price target on Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Frontdoor Price Performance

Frontdoor stock opened at $80.87 on Tuesday. The firm has a fifty day moving average of $78.32 and a 200-day moving average of $67.58. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $93.43. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98. The firm has a market capitalization of $5.57 billion, a P/E ratio of 21.45 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.17. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $643.40 million. During the same period in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that Frontdoor Inc. will post 4.67 EPS for the current year.

About Frontdoor

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.