Louisiana State Employees Retirement System Takes Position in Frontdoor Inc. $FTDR

Louisiana State Employees Retirement System purchased a new stake in Frontdoor Inc. (NASDAQ:FTDR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,000 shares of the company’s stock, valued at approximately $1,692,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 in the last quarter. Millennium Management LLC raised its position in Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after buying an additional 258,920 shares during the period. Empowered Funds LLC raised its position in Frontdoor by 10.5% during the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock valued at $423,000 after buying an additional 1,044 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Frontdoor by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock worth $9,126,000 after acquiring an additional 13,134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 shares in the last quarter.

Frontdoor Stock Performance

FTDR opened at $78.44 on Thursday. 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 stock’s 50 day moving average price is $65.82 and its two-hundred day moving average price is $61.37. The firm has a market capitalization of $5.51 billion, a P/E ratio of 22.48 and a beta of 1.46. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $80.05.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data 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 analysts’ expectations of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.Frontdoor’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTDR has been the topic of several research analyst reports. Benchmark initiated coverage on Frontdoor in a research note on Thursday, March 26th. They set a “buy” rating and a $80.00 target price on the stock. Weiss Ratings cut shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Finally, Wall Street Zen downgraded shares of Frontdoor from a “buy” rating to a “hold” rating in a research report 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 assigned a Hold rating to the company. According to MarketBeat, Frontdoor presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.