Frontdoor, Inc. (NASDAQ:FTDR) Stock Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 34.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,411,423 shares of the company’s stock after selling 1,808,283 shares during the period. Mackenzie Financial Corp owned 4.28% of Frontdoor worth $120,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP grew its position in Frontdoor by 340.9% in the 1st quarter. Quarry LP now owns 1,067 shares of the company’s stock valued at $30,000 after buying an additional 825 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Frontdoor in the 4th quarter valued at about $49,000. Tower Research Capital LLC TRC grew its position in Frontdoor by 44.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock valued at $67,000 after buying an additional 741 shares in the last quarter. Acadian Asset Management LLC bought a new position in Frontdoor in the 3rd quarter valued at about $88,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Frontdoor during the 3rd quarter valued at about $93,000.

Frontdoor Stock Performance

NASDAQ:FTDR opened at $30.21 on Tuesday. Frontdoor, Inc. has a twelve month low of $26.09 and a twelve month high of $38.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24. The company has a 50-day moving average of $31.74 and a 200-day moving average of $32.72. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 14.25 and a beta of 0.89.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.18. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. The company had revenue of $366.00 million during the quarter, compared to analyst estimates of $360.47 million. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts forecast that Frontdoor, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their price objective on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.40.

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.