Convergence Investment Partners LLC Invests $210,000 in Frontdoor, Inc. (NASDAQ:FTDR)

Convergence Investment Partners LLC purchased a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,952 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Frontdoor in the 4th quarter valued at $145,000. Meritage Portfolio Management boosted its stake in shares of Frontdoor by 5.6% during the 4th quarter. Meritage Portfolio Management now owns 10,165 shares of the company’s stock worth $358,000 after acquiring an additional 537 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Frontdoor by 2.0% during the 4th quarter. Yousif Capital Management LLC now owns 40,720 shares of the company’s stock worth $1,434,000 after acquiring an additional 812 shares in the last quarter. NewSquare Capital LLC purchased a new stake in shares of Frontdoor during the 4th quarter worth about $3,284,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Frontdoor by 9,892.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock worth $49,000 after acquiring an additional 1,385 shares in the last quarter.

Frontdoor Trading Up 1.2 %

Shares of Frontdoor stock opened at $31.05 on Monday. The firm has a market capitalization of $2.42 billion, a PE ratio of 14.65 and a beta of 0.89. Frontdoor, Inc. has a twelve month low of $26.09 and a twelve month high of $38.97. The firm’s 50-day moving average price is $31.30 and its 200 day moving average price is $32.73. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.18. The company had revenue of $366.00 million during the quarter, compared to the consensus estimate of $360.47 million. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. Frontdoor’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts predict that Frontdoor, Inc. will post 2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered their target price on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Frontdoor currently has an average rating of “Hold” and a consensus target price of $39.40.

About Frontdoor

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.