Summit Global Investments Reduces Position in Frontdoor, Inc. (NASDAQ:FTDR)

Summit Global Investments lessened its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,596 shares of the company’s stock after selling 2,774 shares during the period. Summit Global Investments’ holdings in Frontdoor were worth $1,022,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Frontdoor by 315.3% during the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock valued at $89,000 after buying an additional 1,239 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Frontdoor during the fourth quarter valued at approximately $467,000. Atria Investments Inc boosted its position in shares of Frontdoor by 4.9% during the fourth quarter. Atria Investments Inc now owns 6,894 shares of the company’s stock valued at $377,000 after buying an additional 325 shares during the period. Caprock Group LLC purchased a new position in shares of Frontdoor during the fourth quarter valued at approximately $208,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Frontdoor during the fourth quarter valued at approximately $8,144,000.

Frontdoor Price Performance

NASDAQ FTDR opened at $55.17 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. The stock’s fifty day moving average price is $45.64 and its 200 day moving average price is $51.13. Frontdoor, Inc. has a 1 year low of $32.95 and a 1 year high of $63.49. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 18.27 and a beta of 1.21.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.37 by $0.27. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The company had revenue of $426.00 million for the quarter, compared to analyst estimates of $416.37 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Frontdoor, Inc. will post 3.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FTDR. Truist Financial boosted their price target on Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. downgraded shares of Frontdoor from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $58.00 to $40.00 in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price objective on Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a report on Monday, March 3rd.

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.