GAMMA Investing LLC Acquires 788 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

GAMMA Investing LLC increased its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 89.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,667 shares of the company’s stock after purchasing an additional 788 shares during the quarter. GAMMA Investing LLC’s holdings in Frontdoor were worth $80,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FTDR. Millennium Management LLC increased its holdings in shares of Frontdoor by 440.4% in the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company’s stock valued at $30,712,000 after acquiring an additional 740,711 shares during the period. Swedbank AB boosted its position in Frontdoor by 112.7% during the second quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock valued at $40,906,000 after purchasing an additional 641,476 shares in the last quarter. Boston Partners boosted its position in Frontdoor by 8.9% during the first quarter. Boston Partners now owns 6,198,543 shares of the company’s stock valued at $201,662,000 after purchasing an additional 506,217 shares in the last quarter. Invenomic Capital Management LP grew its stake in Frontdoor by 57.3% in the first quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company’s stock valued at $34,940,000 after purchasing an additional 390,610 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Frontdoor by 3.8% in the first quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock worth $331,636,000 after purchasing an additional 373,091 shares in the last quarter.

Frontdoor Stock Up 3.0 %

FTDR stock opened at $51.09 on Tuesday. The stock has a market capitalization of $3.97 billion, a PE ratio of 22.41 and a beta of 1.04. Frontdoor, Inc. has a 52 week low of $28.25 and a 52 week high of $51.12. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66. The firm has a 50 day moving average of $47.55 and a 200 day moving average of $39.21.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The business had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Frontdoor, Inc. will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FTDR shares. Truist Financial raised their price target on shares of Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. William Blair raised Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.75.

Frontdoor Company 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.