Summit Global Investments Sells 11,187 Shares of Frontdoor Inc. $FTDR

Summit Global Investments trimmed its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 55.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,123 shares of the company’s stock after selling 11,187 shares during the period. Summit Global Investments’ holdings in Frontdoor were worth $482,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after acquiring an additional 454,040 shares during the period. Geode Capital Management LLC lifted its stake in Frontdoor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,887,029 shares of the company’s stock worth $108,879,000 after purchasing an additional 27,237 shares during the last quarter. Reinhart Partners LLC. lifted its stake in Frontdoor by 25.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock worth $93,987,000 after purchasing an additional 332,556 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Frontdoor by 11.5% in the 4th quarter. Morgan Stanley now owns 1,485,123 shares of the company’s stock valued at $85,677,000 after purchasing an additional 153,138 shares in the last quarter. Finally, Swedbank AB increased its stake in shares of Frontdoor by 6.0% in the 4th quarter. Swedbank AB now owns 1,283,600 shares of the company’s stock valued at $74,051,000 after purchasing an additional 73,000 shares during the last quarter.

Analysts Set New Price Targets

FTDR has been the subject of a number of research analyst reports. Weiss Ratings cut Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Benchmark started coverage on Frontdoor in a research report on Thursday, March 26th. They issued a “buy” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Frontdoor Stock Performance

Shares of FTDR stock opened at $72.04 on Thursday. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 20.64 and a beta of 1.46. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. The business’s 50-day moving average price is $69.49 and its 200-day moving average price is $63.32. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $80.73.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. The company had revenue of $451.00 million during the quarter, compared to the consensus estimate of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts forecast that Frontdoor Inc. will post 4.48 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.