Connor Clark & Lunn Investment Management Ltd. Has $5.78 Million Position in Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Frontdoor Inc. by 13.9%, owning 150,466 shares worth approximately $5.78 million at the end of the last reporting period.
• Multiple brokerages have boosted their price targets for Frontdoor, with Truist Financial raising its price objective from $67.00 to $71.00 and issuing a "buy" rating.
• Frontdoor reported strong earnings results, with an EPS of $1.63, exceeding expectations, alongside a revenue of $617 million for the quarter.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 13.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 150,466 shares of the company's stock after buying an additional 18,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.20% of Frontdoor worth $5,781,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bessemer Group Inc. grew its position in shares of Frontdoor by 514.7% during the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company's stock worth $34,000 after acquiring an additional 525 shares during the last quarter. IFP Advisors Inc grew its position in Frontdoor by 80,766.7% in the 1st quarter. IFP Advisors Inc now owns 2,426 shares of the company's stock valued at $93,000 after buying an additional 2,423 shares in the last quarter. GAMMA Investing LLC grew its position in Frontdoor by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after buying an additional 347 shares in the last quarter. CWM LLC grew its position in Frontdoor by 91.2% in the 1st quarter. CWM LLC now owns 2,574 shares of the company's stock valued at $99,000 after buying an additional 1,228 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Frontdoor by 70.3% in the 1st quarter. Blue Trust Inc. now owns 2,780 shares of the company's stock valued at $107,000 after buying an additional 1,148 shares in the last quarter.

Insider Activity

In other news, SVP Jeffrey Fiarman sold 129,673 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $56.15, for a total value of $7,281,138.95. Following the completion of the sale, the senior vice president directly owned 34,646 shares of the company's stock, valued at $1,945,372.90. This represents a 78.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.48% of the stock is owned by company insiders.

Frontdoor Price Performance

NASDAQ FTDR traded down $0.18 on Friday, reaching $58.89. The company's stock had a trading volume of 656,948 shares, compared to its average volume of 726,615. Frontdoor Inc. has a twelve month low of $35.61 and a twelve month high of $64.91. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $4.29 billion, a PE ratio of 17.37 and a beta of 1.32. The firm's 50 day moving average is $57.98 and its two-hundred day moving average is $51.43.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.19. Frontdoor had a net margin of 13.07% and a return on equity of 125.21%. The company had revenue of $617.00 million during the quarter, compared to the consensus estimate of $602.62 million. During the same period in the prior year, the company earned $1.27 EPS. Frontdoor's revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Frontdoor Inc. will post 3.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FTDR shares. JPMorgan Chase & Co. increased their target price on shares of Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Truist Financial increased their target price on shares of Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group increased their target price on shares of Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research report on Wednesday, August 6th. Finally, Oppenheimer increased their target price on shares of Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th.

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.