PDT Partners LLC Makes New $5.22 Million Investment in Frontdoor Inc. $FTDR

Key Points

• PDT Partners invested approximately $5.22 million in Frontdoor during the second quarter, purchasing 67,242 shares and acquiring an estimated 0.10% stake.
• Frontdoor reported quarterly earnings of $1.93 per share, beating estimates of $1.76, while revenue rose 4.5% year over year to $645 million.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating and an average price target of $92.60; shares recently opened at $83.53.

PDT Partners LLC purchased a new stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 67,242 shares of the company's stock, valued at approximately $5,217,000. PDT Partners LLC owned approximately 0.10% of Frontdoor at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FTDR. Keating Financial Advisory Services Inc. bought a new stake in shares of Frontdoor during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company's stock worth $47,000 after acquiring an additional 497 shares during the last quarter. Quarry LP lifted its holdings in shares of Frontdoor by 429.5% in the third quarter. Quarry LP now owns 879 shares of the company's stock worth $59,000 after acquiring an additional 713 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Frontdoor by 8,376.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company's stock valued at $64,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in shares of Frontdoor during the 2nd quarter valued at $83,000.

Frontdoor Stock Up 0.9%

FTDR opened at $83.53 on Wednesday. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59. The company's 50-day moving average is $77.39 and its 200 day moving average is $66.85. Frontdoor Inc. has a fifty-two week low of $48.47 and a fifty-two week high of $93.43. The firm has a market capitalization of $5.75 billion, a P/E ratio of 22.16 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.17. The business had revenue of $645.00 million for the quarter, compared to analysts' expectations of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. Research analysts expect that Frontdoor Inc. will post 4.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on FTDR shares. Wolfe Research upgraded shares of Frontdoor to an "outperform" rating in a research report on Monday. Truist Financial upped their target price on Frontdoor from $82.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating on shares of Frontdoor in a report on Friday, August 7th. Oppenheimer boosted their price objective on Frontdoor from $70.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Finally, Benchmark raised their price target on shares of Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.60.

Frontdoor 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.

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