Prana Capital Management LP Buys Shares of 26,187 Frontdoor Inc. $FTDR

Prana Capital Management LP purchased a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,187 shares of the company’s stock, valued at approximately $1,762,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Frontdoor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after acquiring an additional 1,994 shares during the period. Millennium Management LLC boosted its position in Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after purchasing an additional 258,920 shares during the period. Empowered Funds LLC increased its stake in shares of Frontdoor by 10.5% in the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after purchasing an additional 1,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Frontdoor by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock worth $9,126,000 after purchasing an additional 13,134 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of Frontdoor in the second quarter valued at approximately $224,000.

Analyst Ratings Changes

A number of brokerages recently commented on FTDR. Truist Financial set a $71.00 price target on shares of Frontdoor in a research note on Monday, January 26th. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Frontdoor in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.75.

Frontdoor Stock Performance

NASDAQ FTDR opened at $64.35 on Wednesday. Frontdoor Inc. has a 1 year low of $35.61 and a 1 year high of $70.77. The company has a debt-to-equity ratio of 4.73, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $4.54 billion, a PE ratio of 18.87 and a beta of 1.31. The company’s 50 day simple moving average is $60.37 and its two-hundred day simple moving average is $60.32.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $433.00 million during the quarter, compared to analyst estimates of $421.62 million. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. Analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal 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.