Victory Capital Management Inc. Cuts Stock Position in Frontdoor, Inc. (NASDAQ:FTDR)

Victory Capital Management Inc. trimmed its stake in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 31.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,487,510 shares of the company's stock after selling 688,546 shares during the period. Victory Capital Management Inc. owned about 1.94% of Frontdoor worth $71,386,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Exchange Traded Concepts LLC bought a new stake in Frontdoor during the third quarter valued at $27,000. GAMMA Investing LLC boosted its position in shares of Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company's stock valued at $30,000 after purchasing an additional 418 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Frontdoor during the third quarter worth approximately $31,000. Isthmus Partners LLC increased its holdings in Frontdoor by 0.5% in the second quarter. Isthmus Partners LLC now owns 110,249 shares of the company's stock worth $37,000 after purchasing an additional 603 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company's stock valued at $37,000 after acquiring an additional 894 shares during the period.

Wall Street Analyst Weigh In

FTDR has been the subject of a number of analyst reports. William Blair upgraded shares of Frontdoor from a "market perform" rating to an "outperform" rating in a report on Friday, August 2nd. Truist Financial lifted their price target on Frontdoor from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on Frontdoor from $45.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group upped their price target on Frontdoor from $41.00 to $46.00 and gave the stock a "sell" 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 assigned a buy rating to the stock. According to MarketBeat.com, Frontdoor has a consensus rating of "Hold" and a consensus target price of $49.50.

Frontdoor Stock Performance

FTDR stock traded down $0.68 during midday trading on Friday, hitting $54.88. The company's stock had a trading volume of 166,032 shares, compared to its average volume of 719,262. The stock's 50-day moving average price is $50.31 and its 200 day moving average price is $42.62. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 18.40 and a beta of 1.03. Frontdoor, Inc. has a 1 year low of $29.41 and a 1 year high of $58.86.

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

About Frontdoor

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.