Renaissance Technologies LLC Purchases 23,800 Shares of Frontdoor Inc. $FTDR

Renaissance Technologies LLC boosted its position in Frontdoor Inc. (NASDAQ:FTDR) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,849,787 shares of the company’s stock after purchasing an additional 23,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Frontdoor were worth $97,780,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Swedbank AB boosted its stake in Frontdoor by 6.0% during the fourth quarter. Swedbank AB now owns 1,283,600 shares of the company’s stock valued at $74,051,000 after buying an additional 73,000 shares during the period. Assenagon Asset Management S.A. increased its stake in Frontdoor by 112.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 80,069 shares of the company’s stock worth $4,619,000 after acquiring an additional 42,462 shares during the last quarter. KBC Group NV raised its holdings in shares of Frontdoor by 271.7% in the 4th quarter. KBC Group NV now owns 27,360 shares of the company’s stock valued at $1,578,000 after acquiring an additional 20,000 shares in the last quarter. Willis Investment Counsel raised its holdings in shares of Frontdoor by 40.5% in the 4th quarter. Willis Investment Counsel now owns 75,237 shares of the company’s stock valued at $4,340,000 after acquiring an additional 21,704 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Frontdoor by 553.8% during the 4th quarter. SG Americas Securities LLC now owns 21,287 shares of the company’s stock valued at $1,228,000 after acquiring an additional 18,031 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FTDR shares. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Truist Financial set a $82.00 target price on shares of Frontdoor in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.75.

Frontdoor Stock Up 1.4%

Shares of Frontdoor stock opened at $71.49 on Friday. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 20.48 and a beta of 1.46. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47. The company’s 50 day moving average price is $69.85 and its 200-day moving average price is $63.47. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $80.73.

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

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.