The Manufacturers Life Insurance Company Makes New Investment in Frontdoor Inc. $FTDR

The Manufacturers Life Insurance Company purchased a new stake in shares of Frontdoor Inc. (NASDAQ:FTDRFree Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 37,570 shares of the company’s stock, valued at approximately $2,915,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Frontdoor at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Frontdoor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock worth $1,761,000 after buying an additional 1,994 shares in the last quarter. Millennium Management LLC lifted its stake in Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after acquiring an additional 258,920 shares during the period. Empowered Funds LLC boosted its holdings in shares of Frontdoor by 10.5% during the 1st quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock valued at $423,000 after acquiring an additional 1,044 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Frontdoor by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock valued at $9,126,000 after acquiring an additional 13,134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 shares during the period.

Frontdoor Price Performance

Shares of Frontdoor stock opened at $79.51 on Wednesday. Frontdoor Inc. has a one year low of $48.47 and a one year high of $93.43. The stock’s fifty day moving average is $78.44 and its 200 day moving average is $67.75. The stock has a market cap of $5.48 billion, a P/E ratio of 21.09 and a beta of 1.50. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59.

Frontdoor (NASDAQ:FTDRGet Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.17. The company had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.Frontdoor’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. Sell-side analysts anticipate that Frontdoor Inc. will post 4.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark boosted their price objective on shares of Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Frontdoor in a research note on Tuesday, August 18th. Wolfe Research raised Frontdoor to an “outperform” rating in a report on Monday, August 24th. Truist Financial increased their target price on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Frontdoor in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Frontdoor has a consensus rating of “Moderate Buy” and a consensus target price of $92.60.

Check Out Our Latest Stock Report on Frontdoor

About Frontdoor

(Free Report)

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.

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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