Edgestream Partners L.P. Invests $656,000 in Frontdoor, Inc. (NASDAQ:FTDR)

Edgestream Partners L.P. bought a new stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,665 shares of the company's stock, valued at approximately $656,000.

Several other hedge funds also recently bought and sold shares of FTDR. Millennium Management LLC grew its holdings in Frontdoor by 440.4% during the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company's stock valued at $30,712,000 after buying an additional 740,711 shares in the last quarter. Swedbank AB grew its stake in Frontdoor by 112.7% during the second quarter. Swedbank AB now owns 1,210,600 shares of the company's stock valued at $40,906,000 after acquiring an additional 641,476 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Frontdoor by 23.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,546,519 shares of the company's stock valued at $52,257,000 after acquiring an additional 291,700 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Frontdoor by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company's stock worth $73,529,000 after purchasing an additional 173,624 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Frontdoor by 357.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 140,800 shares of the company's stock valued at $4,758,000 after purchasing an additional 110,000 shares during the last quarter.

Frontdoor Trading Up 2.7 %

Shares of FTDR traded up $1.54 during midday trading on Friday, hitting $58.81. The stock had a trading volume of 167,755 shares, compared to its average volume of 704,254. The stock's 50 day moving average is $53.13 and its 200 day moving average is $44.97. The firm has a market cap of $4.46 billion, a PE ratio of 18.96 and a beta of 1.08. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. Frontdoor, Inc. has a 1 year low of $29.41 and a 1 year high of $60.42.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.33. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The company had revenue of $540.00 million for the quarter, compared to analyst estimates of $541.88 million. During the same period in the prior year, the company posted $0.94 EPS. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts forecast that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Frontdoor from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on Frontdoor from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group upped their price target on shares of Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Frontdoor has an average rating of "Hold" and a consensus target price of $49.50.

Frontdoor Profile

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.