PDT Partners LLC Purchases New Stake in Frontdoor Inc. $FTDR

PDT Partners LLC acquired a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,242 shares of the company’s stock, valued at approximately $5,217,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new position in shares of Frontdoor during the 2nd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares during the period. Quarry LP raised its holdings in shares of Frontdoor by 429.5% in the 3rd quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC lifted its stake in Frontdoor by 8,376.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $64,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new position in Frontdoor in the second quarter valued at approximately $83,000.

Analysts Set New Price Targets

A number of analysts have issued reports on FTDR shares. JPMorgan Chase & Co. assumed coverage on Frontdoor in a research report on Monday. They issued a “neutral” rating and a $95.00 target price for the company. Wolfe Research raised Frontdoor to an “outperform” rating in a research report on Monday. Benchmark increased their price target on Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. The Goldman Sachs Group reissued a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th. Finally, Oppenheimer upped their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.60.

Frontdoor Stock Up 0.9%

Frontdoor stock opened at $83.53 on Wednesday. Frontdoor Inc. has a 1-year low of $48.47 and a 1-year high of $93.43. The firm has a 50 day simple moving average of $77.39 and a 200 day simple moving average of $66.85. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 3.98. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 22.16 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR) last announced its quarterly 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. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $643.40 million. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Frontdoor Inc. will post 4.66 earnings per share for the current year.

Frontdoor 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.