Riverhead Capital Management LLC Purchases Shares of 7,440 Frontdoor Inc (NASDAQ:FTDR)

Riverhead Capital Management LLC acquired a new stake in shares of Frontdoor Inc (NASDAQ:FTDR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,440 shares of the company’s stock, valued at approximately $324,000.

Several other large investors also recently made changes to their positions in FTDR. Oppenheimer Asset Management Inc. raised its holdings in shares of Frontdoor by 5.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,044 shares of the company’s stock worth $264,000 after acquiring an additional 293 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Frontdoor by 2.0% in the second quarter. CIBC Private Wealth Group LLC now owns 19,310 shares of the company’s stock valued at $841,000 after buying an additional 385 shares during the last quarter. Synovus Financial Corp purchased a new stake in Frontdoor in the first quarter valued at about $29,000. Envestnet Asset Management Inc. raised its position in Frontdoor by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 12,526 shares of the company’s stock valued at $546,000 after acquiring an additional 934 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its position in Frontdoor by 1.5% during the second quarter. Beacon Investment Advisory Services Inc. now owns 65,853 shares of the company’s stock valued at $2,868,000 after acquiring an additional 996 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Several analysts have commented on FTDR shares. Oppenheimer raised their price objective on Frontdoor from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Raymond James lifted their price objective on Frontdoor from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. SunTrust Banks set a $50.00 price objective on Frontdoor and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded Frontdoor from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research report on Saturday, August 10th. Finally, Buckingham Research downgraded Frontdoor from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.30.

Shares of FTDR stock traded up $0.43 during mid-day trading on Friday, hitting $51.71. 6,554 shares of the company’s stock were exchanged, compared to its average volume of 517,584. The stock has a market cap of $4.12 billion and a price-to-earnings ratio of 29.25. The stock has a 50-day simple moving average of $49.10 and a two-hundred day simple moving average of $41.08. Frontdoor Inc has a fifty-two week low of $20.66 and a fifty-two week high of $53.29.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.50 by $0.23. Frontdoor had a negative return on equity of 44.16% and a net margin of 10.57%. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $387.49 million. During the same period last year, the company posted $0.62 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontdoor Inc will post 1.84 EPS for the current year.

Frontdoor Profile

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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