Invenomic Capital Management LP Boosts Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Invenomic Capital Management LP raised its position in Frontdoor, Inc. (NASDAQ:FTDR) by 57.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,072,445 shares of the company’s stock after purchasing an additional 390,610 shares during the quarter. Frontdoor accounts for approximately 1.9% of Invenomic Capital Management LP’s portfolio, making the stock its 12th largest position. Invenomic Capital Management LP owned about 1.38% of Frontdoor worth $34,940,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of Frontdoor by 27.2% during the fourth quarter. Raymond James & Associates now owns 139,660 shares of the company’s stock worth $4,919,000 after purchasing an additional 29,877 shares in the last quarter. Fenimore Asset Management Inc. boosted its position in Frontdoor by 1.0% in the 4th quarter. Fenimore Asset Management Inc. now owns 335,732 shares of the company’s stock valued at $11,824,000 after buying an additional 3,180 shares during the period. New York State Teachers Retirement System grew its stake in shares of Frontdoor by 24.2% in the fourth quarter. New York State Teachers Retirement System now owns 37,094 shares of the company’s stock worth $1,306,000 after acquiring an additional 7,237 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Frontdoor by 39.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 18,706 shares of the company’s stock worth $653,000 after acquiring an additional 5,331 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Frontdoor by 2.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,049 shares of the company’s stock valued at $1,305,000 after acquiring an additional 980 shares in the last quarter.

Frontdoor Stock Up 0.4 %

Shares of Frontdoor stock traded up $0.16 during trading on Tuesday, hitting $39.69. 759,351 shares of the stock were exchanged, compared to its average volume of 731,241. The company has a debt-to-equity ratio of 3.54, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50-day moving average price is $35.54 and its 200 day moving average price is $33.54. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 17.41 and a beta of 1.00. Frontdoor, Inc. has a 12-month low of $28.25 and a 12-month high of $40.48.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.23. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. The company had revenue of $378.00 million during the quarter, compared to the consensus estimate of $376.36 million. As a group, analysts forecast that Frontdoor, Inc. will post 2.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their target price on Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.00.

About Frontdoor

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.