Breach Inlet Capital Management LLC Buys Shares of 169,976 Frontdoor Inc. $FTDR

Breach Inlet Capital Management LLC bought a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 169,976 shares of the company’s stock, valued at approximately $9,806,000. Frontdoor accounts for 4.6% of Breach Inlet Capital Management LLC’s holdings, making the stock its 9th largest holding. Breach Inlet Capital Management LLC owned about 0.24% of Frontdoor at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Guggenheim Capital LLC purchased a new position in shares of Frontdoor during the fourth quarter valued at approximately $438,000. Cetera Investment Advisers boosted its position in shares of Frontdoor by 4.9% during the fourth quarter. Cetera Investment Advisers now owns 8,921 shares of the company’s stock valued at $515,000 after buying an additional 420 shares during the period. Lazard Asset Management LLC boosted its position in shares of Frontdoor by 4.5% during the fourth quarter. Lazard Asset Management LLC now owns 68,303 shares of the company’s stock valued at $3,940,000 after buying an additional 2,969 shares during the period. Amundi boosted its position in shares of Frontdoor by 25.2% during the fourth quarter. Amundi now owns 16,283 shares of the company’s stock valued at $939,000 after buying an additional 3,278 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Frontdoor by 12.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 88,808 shares of the company’s stock valued at $5,123,000 after buying an additional 10,133 shares during the period.

Frontdoor Stock Down 2.0%

Shares of NASDAQ FTDR opened at $68.74 on Thursday. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.70 and a beta of 1.50. The stock has a 50 day moving average price of $62.77 and a 200 day moving average price of $59.90. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $71.63.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.Frontdoor’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Sell-side analysts expect that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FTDR has been the subject of several recent analyst reports. Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Benchmark began coverage on Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Frontdoor in a report on Thursday, February 26th. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and boosted their price target for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Finally, Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Frontdoor presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.