Panagora Asset Management Inc. Makes New $7.44 Million Investment in Frontdoor Inc. $FTDR

Panagora Asset Management Inc. bought a new stake in Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 126,230 shares of the company’s stock, valued at approximately $7,440,000. Panagora Asset Management Inc. owned approximately 0.17% of Frontdoor as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Boston Partners lifted its stake in Frontdoor by 1.2% in the first quarter. Boston Partners now owns 5,980,271 shares of the company’s stock valued at $229,891,000 after buying an additional 68,733 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Frontdoor by 33.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,752,723 shares of the company’s stock valued at $105,760,000 after acquiring an additional 685,148 shares during the last quarter. Invesco Ltd. lifted its stake in Frontdoor by 46.9% during the first quarter. Invesco Ltd. now owns 1,223,776 shares of the company’s stock valued at $47,017,000 after buying an additional 390,434 shares in the last quarter. Northern Trust Corp grew its position in Frontdoor by 3.2% during the 1st quarter. Northern Trust Corp now owns 963,544 shares of the company’s stock worth $37,019,000 after purchasing an additional 29,892 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Frontdoor during the 1st quarter valued at about $32,213,000.

Frontdoor Trading Down 1.2%

NASDAQ:FTDR opened at $52.76 on Wednesday. The company has a debt-to-equity ratio of 3.64, a current ratio of 1.73 and a quick ratio of 1.73. The business’s 50-day simple moving average is $60.73 and its 200-day simple moving average is $59.66. Frontdoor Inc. has a fifty-two week low of $35.61 and a fifty-two week high of $70.14. The stock has a market capitalization of $3.80 billion, a PE ratio of 15.03 and a beta of 1.32.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Wednesday, November 5th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.49 by $0.09. Frontdoor had a net margin of 12.87% and a return on equity of 122.74%. The firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $610.77 million. During the same period last year, the company posted $1.38 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts expect that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTDR has been the topic of a number of research reports. Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Truist Financial boosted their price objective on Frontdoor from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Oppenheimer lifted their price objective on Frontdoor from $56.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a report on Monday. Finally, The Goldman Sachs Group boosted their price objective on Frontdoor from $44.00 to $50.00 and gave the stock a “sell” rating in a report on Wednesday, August 6th. Two 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, Frontdoor has a consensus rating of “Hold” and a consensus price target of $59.75.

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.