Seven Eight Capital LP Trims Position in Frontdoor, Inc. (NASDAQ:FTDR)

Seven Eight Capital LP decreased its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 45.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,544 shares of the company’s stock after selling 21,557 shares during the period. Seven Eight Capital LP’s holdings in Frontdoor were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FTDR. Covestor Ltd increased its holdings in shares of Frontdoor by 288.6% in the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after acquiring an additional 857 shares during the period. Parkside Financial Bank & Trust grew its position in Frontdoor by 9,892.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock worth $49,000 after acquiring an additional 1,385 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of Frontdoor during the fourth quarter worth $71,000. Quadrant Capital Group LLC raised its stake in Frontdoor by 13.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after buying an additional 341 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Frontdoor in the fourth quarter valued at $145,000.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price target on Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.00.

Frontdoor Price Performance

Shares of Frontdoor stock traded up $0.25 on Tuesday, hitting $37.60. The company had a trading volume of 711,276 shares, compared to its average volume of 726,811. The business has a 50-day simple moving average of $35.31 and a 200-day simple moving average of $33.36. 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 company has a market cap of $2.92 billion, a PE ratio of 16.49 and a beta of 1.00. Frontdoor, Inc. has a 52 week low of $28.25 and a 52 week high of $38.97.

Frontdoor (NASDAQ:FTDR) last released its 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. The company had revenue of $378.00 million during the quarter, compared to the consensus estimate of $376.36 million. Frontdoor had a net margin of 10.27% and a return on equity of 132.00%. Research analysts expect that Frontdoor, Inc. will post 2.52 EPS for the current fiscal year.

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.