Verition Fund Management LLC Buys 15,637 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Verition Fund Management LLC lifted its position in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 255.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,757 shares of the company's stock after buying an additional 15,637 shares during the period. Verition Fund Management LLC's holdings in Frontdoor were worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FTDR. GAMMA Investing LLC grew its position in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company's stock worth $30,000 after acquiring an additional 418 shares during the last quarter. Diversified Trust Co bought a new stake in Frontdoor during the 2nd quarter valued at $400,000. Swedbank AB boosted its position in Frontdoor by 112.7% during the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company's stock valued at $40,906,000 after buying an additional 641,476 shares during the period. Reinhart Partners LLC. grew its holdings in Frontdoor by 1.8% in the 2nd quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company's stock worth $78,762,000 after acquiring an additional 42,169 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new position in shares of Frontdoor in the second quarter valued at about $143,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FTDR shares. The Goldman Sachs Group increased their target price on shares of Frontdoor from $41.00 to $46.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on Frontdoor from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, August 12th. Finally, Truist Financial upped their target price on Frontdoor from $56.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $49.50.

Frontdoor Stock Down 2.2 %

Shares of FTDR stock traded down $1.28 during midday trading on Monday, reaching $57.52. 680,128 shares of the stock were exchanged, compared to its average volume of 705,397. Frontdoor, Inc. has a 1 year low of $29.41 and a 1 year high of $60.42. The firm has a market cap of $4.36 billion, a PE ratio of 19.05 and a beta of 1.08. The company's 50 day moving average is $53.52 and its two-hundred day moving average is $45.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The company had revenue of $540.00 million for the quarter, compared to analysts' expectations of $541.88 million. During the same period in the prior year, the firm earned $0.94 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts predict that Frontdoor, Inc. will post 3.14 EPS for the current year.

Frontdoor Company 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.