Cubist Systematic Strategies LLC Has $2.23 Million Position in Frontdoor, Inc. (NASDAQ:FTDR)

Cubist Systematic Strategies LLC reduced its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 37.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,865 shares of the company’s stock after selling 39,803 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Frontdoor were worth $2,226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Frontdoor by 25.2% in the first quarter. Nordea Investment Management AB now owns 295,885 shares of the company’s stock valued at $9,631,000 after purchasing an additional 59,572 shares during the last quarter. BOKF NA acquired a new stake in Frontdoor during the second quarter valued at approximately $493,000. Allianz Asset Management GmbH grew its stake in shares of Frontdoor by 775.6% in the 4th quarter. Allianz Asset Management GmbH now owns 270,189 shares of the company’s stock valued at $9,516,000 after purchasing an additional 239,333 shares during the period. Norges Bank bought a new stake in shares of Frontdoor in the 4th quarter valued at approximately $18,725,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Frontdoor by 44.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 870,440 shares of the company’s stock valued at $30,657,000 after purchasing an additional 267,762 shares during the period.

Analysts Set New Price Targets

FTDR has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Truist Financial upped their price objective on Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price objective on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.75.

Frontdoor Stock Up 0.6 %

NASDAQ FTDR opened at $48.62 on Monday. The firm has a market cap of $3.78 billion, a PE ratio of 21.32 and a beta of 1.04. Frontdoor, Inc. has a one year low of $28.25 and a one year high of $49.43. The stock’s 50 day simple moving average is $45.71 and its 200 day simple moving average is $37.91. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.27. The business had revenue of $542.00 million for the quarter, compared to analyst estimates of $536.74 million. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. Frontdoor’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. As a group, sell-side analysts forecast that Frontdoor, Inc. will post 2.79 earnings per share for the current fiscal year.

Frontdoor Profile

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.