Voya Investment Management LLC Cuts Stake in Frontdoor Inc. $FTDR

Voya Investment Management LLC lowered its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 17.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,703 shares of the company’s stock after selling 9,407 shares during the period. Voya Investment Management LLC owned 0.06% of Frontdoor worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTDR. Central Pacific Bank Trust Division increased its holdings in Frontdoor by 16.4% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,628 shares of the company’s stock valued at $177,000 after acquiring an additional 370 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Frontdoor by 6.9% during the third quarter. GAMMA Investing LLC now owns 3,726 shares of the company’s stock valued at $251,000 after purchasing an additional 240 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Frontdoor during the second quarter valued at about $254,000. Osaic Holdings Inc. increased its holdings in shares of Frontdoor by 66.3% in the second quarter. Osaic Holdings Inc. now owns 4,143 shares of the company’s stock worth $244,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Frontdoor by 936.9% in the second quarter. Squarepoint Ops LLC now owns 163,980 shares of the company’s stock worth $9,665,000 after buying an additional 148,166 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FTDR shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research note on Monday. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Zacks Research downgraded shares of Frontdoor from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.75.

Frontdoor Price Performance

Shares of Frontdoor stock opened at $58.61 on Friday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 16.70 and a beta of 1.32. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a 50 day moving average price of $56.82 and a 200-day moving average price of $59.61. Frontdoor Inc. has a one year low of $35.61 and a one year high of $70.14.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. The company had revenue of $618.00 million for the quarter, compared to analyst estimates of $610.77 million. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.Frontdoor’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Equities analysts expect that Frontdoor Inc. will post 3.07 EPS for the current year.

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.