Livforsakringsbolaget Skandia Omsesidigt Makes New $6.63 Million Investment in Frontdoor Inc. $FTDR

Key Points

• Livförsäkringsbolaget Skandia Omsesidigt purchased 85,500 Frontdoor shares worth approximately $6.63 million, giving it a 0.12% stake in the company.
• Frontdoor reported quarterly EPS of $1.93, exceeding the $1.76 consensus estimate, while revenue rose 4.5% year over year to $645 million. Shares recently traded at $82.89, near the upper end of their 52-week range.
• Analysts maintain a generally positive outlook, with Frontdoor carrying a “Moderate Buy” consensus rating and an average price target of $92.60.

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,500 shares of the company's stock, valued at approximately $6,634,000. Livforsakringsbolaget Skandia Omsesidigt owned 0.12% of Frontdoor as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Wyoming boosted its holdings in shares of Frontdoor by 2.5% in the first quarter. State of Wyoming now owns 7,140 shares of the company's stock valued at $377,000 after acquiring an additional 177 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Frontdoor by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company's stock worth $2,010,000 after purchasing an additional 200 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Frontdoor by 1.7% in the fourth quarter. ProShare Advisors LLC now owns 14,232 shares of the company's stock valued at $821,000 after buying an additional 236 shares during the period. Snowden Capital Advisors LLC lifted its holdings in shares of Frontdoor by 4.1% in the second quarter. Snowden Capital Advisors LLC now owns 6,407 shares of the company's stock valued at $378,000 after buying an additional 250 shares during the period. Finally, Bank of Montreal Can boosted its stake in Frontdoor by 5.0% during the fourth quarter. Bank of Montreal Can now owns 5,296 shares of the company's stock valued at $306,000 after buying an additional 254 shares in the last quarter.

Frontdoor Stock Performance

Shares of NASDAQ FTDR opened at $82.89 on Friday. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59. Frontdoor Inc. has a one year low of $48.47 and a one year high of $93.43. The business's 50-day moving average price is $78.14 and its two-hundred day moving average price is $67.33. The company has a market capitalization of $5.71 billion, a P/E ratio of 21.99 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.76 by $0.17. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. During the same period in the prior year, the business posted $1.63 earnings per share. The business's quarterly revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Frontdoor Inc. will post 4.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Frontdoor in a research report on Tuesday, August 18th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Frontdoor in a report on Friday, August 7th. Wolfe Research raised shares of Frontdoor to an "outperform" rating in a research note on Monday. Benchmark upped their price target on Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. began coverage on Frontdoor in a research report on Monday, August 24th. They set a "neutral" rating and a $95.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Frontdoor presently has a consensus rating of "Moderate Buy" and an average price target of $92.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.