Assenagon Asset Management S.A. Sells 53,498 Shares of Frontdoor Inc. $FTDR

Assenagon Asset Management S.A. reduced its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 66.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,571 shares of the company’s stock after selling 53,498 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Frontdoor were worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FTDR. JPMorgan Chase & Co. increased its stake in Frontdoor by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 225,385 shares of the company’s stock valued at $15,166,000 after acquiring an additional 47,587 shares during the period. Prana Capital Management LP bought a new stake in Frontdoor in the third quarter valued at about $1,762,000. Swedbank AB lifted its stake in Frontdoor by 6.0% during the fourth quarter. Swedbank AB now owns 1,283,600 shares of the company’s stock worth $74,051,000 after purchasing an additional 73,000 shares during the period. Algert Global LLC boosted its holdings in Frontdoor by 24.5% during the third quarter. Algert Global LLC now owns 260,233 shares of the company’s stock valued at $17,511,000 after purchasing an additional 51,214 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Frontdoor by 271.7% in the 4th quarter. KBC Group NV now owns 27,360 shares of the company’s stock valued at $1,578,000 after purchasing an additional 20,000 shares during the period.

Frontdoor Trading Up 1.1%

FTDR stock opened at $78.44 on Thursday. The business has a fifty day moving average price of $65.82 and a 200 day moving average price of $61.37. Frontdoor Inc. has a fifty-two week low of $48.47 and a fifty-two week high of $80.05. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 22.48 and a beta of 1.46. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on FTDR. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Benchmark assumed coverage on shares of Frontdoor in a research report on Thursday, March 26th. They set a “buy” rating and a $80.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.