Voya Investment Management LLC Sells 9,407 Shares of Frontdoor Inc. $FTDR

Voya Investment Management LLC lessened its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 17.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,703 shares of the company’s stock after selling 9,407 shares during the quarter. Voya Investment Management LLC’s holdings in Frontdoor were worth $3,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Broad Bay Capital Management LP purchased a new position in Frontdoor during the 2nd quarter valued at $46,886,000. Eventide Asset Management LLC purchased a new stake in Frontdoor in the second quarter worth $28,506,000. Cubist Systematic Strategies LLC lifted its position in shares of 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 lifted its position in shares of 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. Finally, New Vernon Capital Holdings II LLC grew its holdings in shares of Frontdoor by 3,742.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 245,350 shares of the company’s stock worth $9,426,000 after purchasing an additional 238,964 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research report on Monday. Finally, Zacks Research downgraded shares of Frontdoor from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.75.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR opened at $58.61 on Friday. The firm has a 50 day moving average of $56.82 and a 200 day moving average of $59.61. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 3.64. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 16.70 and a beta of 1.32. Frontdoor Inc. has a 52 week low of $35.61 and a 52 week high of $70.14.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $618.00 million for the quarter, compared to the consensus estimate of $610.77 million. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.The business’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $1.38 EPS. On average, sell-side analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

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.