Prana Capital Management LP Invests $1.76 Million in Frontdoor Inc. $FTDR

Prana Capital Management LP acquired a new position in Frontdoor Inc. (NASDAQ:FTDR) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 26,187 shares of the company’s stock, valued at approximately $1,762,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FTDR. Broad Bay Capital Management LP bought a new stake in Frontdoor during the second quarter valued at approximately $46,886,000. Eventide Asset Management LLC bought a new position in shares of Frontdoor in the 2nd quarter worth $28,506,000. Marshall Wace LLP purchased a new stake in shares of Frontdoor during the 3rd quarter valued at $23,871,000. Cubist Systematic Strategies LLC raised its position in shares of Frontdoor by 309.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after buying an additional 326,112 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after acquiring an additional 258,920 shares during the last quarter.

Frontdoor Price Performance

Shares of Frontdoor stock opened at $64.35 on Wednesday. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55. Frontdoor Inc. has a 52-week low of $35.61 and a 52-week high of $70.77. The company has a fifty day moving average of $60.37 and a 200-day moving average of $60.32. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 18.87 and a beta of 1.31.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, February 26th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The company had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $421.62 million. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Equities research analysts expect that Frontdoor Inc. will post 3.07 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on FTDR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $50.00 to $67.00 in a report on Monday, March 2nd. Truist Financial set a $71.00 price objective on Frontdoor in a research report on Monday, January 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 price objective on shares of Frontdoor in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Frontdoor has an average rating of “Hold” and a consensus target price of $65.75.

About Frontdoor

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.