Summit Global Investments Has $482,000 Stock Holdings in Frontdoor Inc. $FTDR

Summit Global Investments lessened its stake in Frontdoor Inc. (NASDAQ:FTDR) by 55.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,123 shares of the company’s stock after selling 11,187 shares during the quarter. Summit Global Investments’ holdings in Frontdoor were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Convergence Investment Partners LLC increased its holdings in shares of Frontdoor by 5.0% during the 1st quarter. Convergence Investment Partners LLC now owns 22,920 shares of the company’s stock valued at $1,212,000 after acquiring an additional 1,097 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Frontdoor during the 1st quarter valued at $1,138,000. Dimensional Fund Advisors LP lifted its stake in shares of Frontdoor by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,179,376 shares of the company’s stock valued at $62,339,000 after buying an additional 31,259 shares during the period. KBC Group NV lifted its position in shares of Frontdoor by 158.8% in the 1st quarter. KBC Group NV now owns 70,819 shares of the company’s stock worth $3,743,000 after acquiring an additional 43,459 shares during the period. Finally, California Public Employees Retirement System lifted its position in Frontdoor by 5.0% in the first quarter. California Public Employees Retirement System now owns 153,941 shares of the company’s stock worth $8,137,000 after purchasing an additional 7,267 shares during the period.

Frontdoor Stock Performance

NASDAQ FTDR opened at $72.04 on Thursday. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $80.73. The stock has a market cap of $5.06 billion, a PE ratio of 20.64 and a beta of 1.46. The firm has a 50-day moving average of $69.49 and a 200-day moving average of $63.32. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $451.00 million during the quarter, compared to the consensus estimate of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. On average, sell-side analysts anticipate that Frontdoor Inc. will post 4.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FTDR shares. Benchmark assumed coverage on Frontdoor in a report on Thursday, March 26th. They set a “buy” rating and a $80.00 price objective for the company. Weiss Ratings lowered shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.