Mangrove Partners IM LLC Buys New Shares in Frontdoor Inc. $FTDR

Mangrove Partners IM LLC bought a new stake in Frontdoor Inc. (NASDAQ:FTDR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,838 shares of the company’s stock, valued at approximately $625,000.

Several other institutional investors have also recently added to or reduced their stakes in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Frontdoor by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after purchasing an additional 1,994 shares during the last quarter. Millennium Management LLC increased its stake in Frontdoor by 533.0% in the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after purchasing an additional 258,920 shares during the last quarter. Empowered Funds LLC increased its stake in Frontdoor by 10.5% in the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock valued at $423,000 after purchasing an additional 1,044 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Frontdoor by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock valued at $9,126,000 after purchasing an additional 13,134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after purchasing an additional 497 shares during the last quarter.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR opened at $70.13 on Wednesday. The firm has a market capitalization of $4.93 billion, a PE ratio of 20.09 and a beta of 1.50. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50-day moving average of $62.51 and a two-hundred day moving average of $59.79. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $71.63.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The company had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts forecast that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on FTDR shares. Benchmark started coverage on Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 target price for the company. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and upped their target price for the company from $50.00 to $67.00 in a research note on Monday, March 2nd. Oppenheimer restated an “outperform” rating and set a $70.00 price target on shares of Frontdoor in a research note on Thursday, February 26th. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.