Versor Investments LP Acquires 8,994 Shares of Frontdoor Inc. $FTDR

Versor Investments LP increased its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 126.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,094 shares of the company’s stock after purchasing an additional 8,994 shares during the period. Versor Investments LP’s holdings in Frontdoor were worth $928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arizona State Retirement System boosted its stake in shares of Frontdoor by 0.9% during the third quarter. Arizona State Retirement System now owns 21,758 shares of the company’s stock valued at $1,464,000 after purchasing an additional 193 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Frontdoor by 4.0% during the fourth quarter. Park Avenue Securities LLC now owns 5,107 shares of the company’s stock valued at $295,000 after purchasing an additional 198 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Frontdoor by 11.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,065 shares of the company’s stock valued at $119,000 after purchasing an additional 217 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Frontdoor by 10.4% during the third quarter. Smartleaf Asset Management LLC now owns 2,470 shares of the company’s stock valued at $165,000 after purchasing an additional 233 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its stake in shares of Frontdoor by 6.9% during the fourth quarter. Optivise Advisory Services LLC now owns 3,641 shares of the company’s stock valued at $210,000 after purchasing an additional 235 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FTDR shares. Truist Financial set a $71.00 price objective on shares of Frontdoor in a research note on Monday, January 26th. Wall Street Zen downgraded shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $67.00 in a research note on Monday, March 2nd. Oppenheimer restated an “outperform” rating and issued a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. Finally, Weiss Ratings upgraded shares of Frontdoor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.60.

Frontdoor Price Performance

Shares of FTDR opened at $63.47 on Wednesday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 18.19 and a beta of 1.55. Frontdoor Inc. has a twelve month low of $48.47 and a twelve month high of $70.77. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 4.95. The company has a 50 day moving average of $61.02 and a two-hundred day moving average of $58.63.

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

Frontdoor Company 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.