Millennium Management LLC Reduces Holdings in Frontdoor Inc (NASDAQ:FTDR)

Millennium Management LLC trimmed its holdings in shares of Frontdoor Inc (NASDAQ:FTDR) by 56.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,343 shares of the company’s stock after selling 575,823 shares during the period. Millennium Management LLC owned about 0.53% of Frontdoor worth $21,678,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FTDR. Steward Partners Investment Advisory LLC grew its holdings in Frontdoor by 67.5% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 695 shares of the company’s stock valued at $33,000 after buying an additional 280 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in shares of Frontdoor in the third quarter worth $38,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Frontdoor in the second quarter worth $40,000. Quantamental Technologies LLC purchased a new stake in shares of Frontdoor in the second quarter valued at $74,000. Finally, Aperio Group LLC purchased a new stake in shares of Frontdoor in the second quarter valued at $78,000.

FTDR stock opened at $44.58 on Tuesday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of -0.68. Frontdoor Inc has a 52-week low of $21.62 and a 52-week high of $53.29. The stock’s fifty day simple moving average is $46.64 and its 200-day simple moving average is $46.42.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Tuesday, November 5th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.07. Frontdoor had a negative return on equity of 54.13% and a net margin of 11.23%. The firm had revenue of $407.00 million during the quarter, compared to analyst estimates of $411.14 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Frontdoor Inc will post 1.83 EPS for the current year.

FTDR has been the subject of a number of recent research reports. SunTrust Banks reiterated a “buy” rating and set a $54.00 price objective on shares of Frontdoor in a research report on Monday, November 11th. Zacks Investment Research downgraded shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Guggenheim upped their target price on shares of Frontdoor from $43.00 to $55.00 and gave the company a “buy” rating in a report on Monday, August 19th. ValuEngine cut shares of Frontdoor from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Wells Fargo & Co downgraded shares of Frontdoor from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $50.00 to $55.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.16.

Frontdoor Company Profile

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

See Also: Convertible Shares

Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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