Breach Inlet Capital Management LLC Invests $9.81 Million in Frontdoor Inc. $FTDR

Breach Inlet Capital Management LLC purchased a new position in shares of Frontdoor Inc. (NASDAQ:FTDR – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 169,976 shares of the company’s stock, valued at approximately $9,806,000. Frontdoor accounts for approximately 4.6% of Breach Inlet Capital Management LLC’s holdings, making the stock its 9th largest position.

A number of other large investors have also made changes to their positions in FTDR. Private Trust Co. NA increased its position in shares of Frontdoor by 256.3% during the fourth quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares in the last quarter. Quarry LP increased its position in shares of Frontdoor by 429.5% during the third quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after purchasing an additional 713 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Frontdoor by 8,376.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after purchasing an additional 1,089 shares in the last quarter. Finally, LSV Asset Management acquired a new position in shares of Frontdoor during the third quarter worth $87,000.

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Frontdoor Price Performance

NASDAQ FTDR opened at $68.74 on Thursday. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The stock’s fifty day moving average price is $62.77 and its 200 day moving average price is $59.90. Frontdoor Inc. has a 1 year low of $48.47 and a 1 year high of $71.63. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 19.70 and a beta of 1.50.

Frontdoor (NASDAQ:FTDR – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The firm had revenue of $451.00 million for the quarter, compared to the consensus estimate of $442.28 million. During the same period in the prior year, the firm earned $0.64 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Benchmark assumed coverage on Frontdoor in a research report on Thursday, March 26th. They set a “buy” rating and a $80.00 price target on the stock. The Goldman Sachs Group raised Frontdoor from a “sell” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price target on shares of Frontdoor in a research report on Thursday, February 26th. Weiss Ratings downgraded Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Frontdoor currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Check Out Our Latest Stock Analysis on FTDR

Frontdoor Profile

(Free Report)

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.

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