Geode Capital Management LLC Has $108.88 Million Stock Position in Frontdoor Inc. $FTDR

Geode Capital Management LLC grew its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,887,029 shares of the company’s stock after acquiring an additional 27,237 shares during the period. Geode Capital Management LLC’s holdings in Frontdoor were worth $108,879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTDR. Marshall Wace LLP purchased a new position in Frontdoor during the third quarter worth about $23,871,000. Cubist Systematic Strategies LLC boosted its holdings in Frontdoor by 309.6% during the second quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock worth $25,429,000 after purchasing an additional 326,112 shares during the last quarter. Millennium Management LLC boosted its holdings in Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after purchasing an additional 258,920 shares during the last quarter. Jane Street Group LLC boosted its holdings in Frontdoor by 149.7% during the second quarter. Jane Street Group LLC now owns 360,228 shares of the company’s stock worth $21,232,000 after purchasing an additional 215,982 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Frontdoor by 936.9% during the second quarter. Squarepoint Ops LLC now owns 163,980 shares of the company’s stock worth $9,665,000 after purchasing an additional 148,166 shares during the last quarter.

Frontdoor Stock Performance

NASDAQ FTDR opened at $63.64 on Friday. The company’s 50 day moving average is $60.61 and its 200-day moving average is $58.94. Frontdoor Inc. has a 12-month low of $48.47 and a 12-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 firm has a market cap of $4.47 billion, a P/E ratio of 18.23 and a beta of 1.50.

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

Analyst Ratings Changes

Several research firms recently weighed in on FTDR. Benchmark began coverage on shares of Frontdoor in a report on Thursday, March 26th. They set a “buy” rating and a $80.00 price target on the stock. Weiss Ratings lowered shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Frontdoor in a research report on Thursday, February 26th. Finally, The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Frontdoor presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.