Maryland State Retirement & Pension System Sells 3,525 Shares of Frontdoor Inc. (NASDAQ:FTDR)

Maryland State Retirement & Pension System decreased its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 13.7% in the 1st quarter, Holdings Channel reports. The firm owned 22,121 shares of the company’s stock after selling 3,525 shares during the period. Maryland State Retirement & Pension System’s holdings in Frontdoor were worth $850,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Wasatch Advisors LP bought a new stake in Frontdoor during the fourth quarter worth about $56,507,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Frontdoor by 621.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 881,083 shares of the company’s stock valued at $48,169,000 after buying an additional 758,947 shares in the last quarter. Fiera Capital Corp bought a new stake in Frontdoor in the 1st quarter worth approximately $28,024,000. Reinhart Partners LLC. boosted its stake in Frontdoor by 16.2% in the first quarter. Reinhart Partners LLC. now owns 2,368,684 shares of the company’s stock worth $91,005,000 after buying an additional 331,066 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Frontdoor during the fourth quarter valued at approximately $17,465,000.

Frontdoor Stock Up 1.7%

Shares of NASDAQ FTDR opened at $57.01 on Wednesday. Frontdoor Inc. has a one year low of $35.61 and a one year high of $64.91. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s 50 day simple moving average is $57.87 and its two-hundred day simple moving average is $51.41. The stock has a market capitalization of $4.15 billion, a P/E ratio of 16.82 and a beta of 1.32.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.19. Frontdoor had a net margin of 13.07% and a return on equity of 125.21%. The firm had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $602.62 million. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Frontdoor Inc. will post 3.07 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jeffrey Fiarman sold 129,673 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $56.15, for a total value of $7,281,138.95. Following the transaction, the senior vice president owned 34,646 shares in the company, valued at approximately $1,945,372.90. This trade represents a 78.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FTDR shares. Oppenheimer increased their price target on shares of Frontdoor from $56.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group increased their price target on shares of Frontdoor from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Frontdoor from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd. Finally, Truist Financial increased their price target on shares of Frontdoor from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th.

Frontdoor 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.