Tiverton Asset Management LLC Makes New $378,000 Investment in Frontdoor Inc (NASDAQ:FTDR)

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Tiverton Asset Management LLC bought a new stake in shares of Frontdoor Inc (NASDAQ:FTDR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,671 shares of the company’s stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janus Henderson Group PLC grew its holdings in Frontdoor by 3.0% during the 2nd quarter. Janus Henderson Group PLC now owns 6,297,086 shares of the company’s stock worth $274,238,000 after acquiring an additional 182,818 shares in the last quarter. Iridian Asset Management LLC CT bought a new position in shares of Frontdoor during the first quarter valued at approximately $145,676,000. FIL Ltd bought a new position in shares of Frontdoor during the first quarter valued at approximately $116,498,000. Prudential Financial Inc. purchased a new position in Frontdoor during the second quarter valued at approximately $83,645,000. Finally, Chilton Investment Co. LLC increased its holdings in Frontdoor by 7.7% during the second quarter. Chilton Investment Co. LLC now owns 1,063,705 shares of the company’s stock valued at $46,324,000 after buying an additional 75,601 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on the company. Buckingham Research lowered Frontdoor from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a report on Wednesday, July 31st. Oppenheimer lifted their price target on Frontdoor from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Raymond James boosted their price target on Frontdoor from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Zacks Investment Research upgraded Frontdoor from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a research note on Saturday, August 10th. Finally, Guggenheim upped their price objective on Frontdoor from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Frontdoor has a consensus rating of “Buy” and an average target price of $47.30.

Shares of Frontdoor stock traded up $1.73 during trading on Wednesday, reaching $50.38. The company’s stock had a trading volume of 11,917 shares, compared to its average volume of 500,474. The company has a market cap of $4.24 billion and a price-to-earnings ratio of 28.47. Frontdoor Inc has a 1-year low of $20.66 and a 1-year high of $53.29. The company has a 50-day simple moving average of $48.99 and a two-hundred day simple moving average of $40.97.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Wednesday, August 7th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.23. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $387.49 million. Frontdoor had a negative return on equity of 44.16% and a net margin of 10.57%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. As a group, equities analysts predict that Frontdoor Inc will post 1.84 EPS for the current year.

About Frontdoor

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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