nVerses Capital LLC Increases Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

nVerses Capital LLC grew its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. nVerses Capital LLC’s holdings in Frontdoor were worth $240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FTDR. Vanguard Group Inc. grew its position in Frontdoor by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock valued at $331,636,000 after purchasing an additional 373,091 shares during the last quarter. Boston Partners increased its position in shares of Frontdoor by 8.9% during the first quarter. Boston Partners now owns 6,198,543 shares of the company’s stock valued at $201,662,000 after acquiring an additional 506,217 shares in the last quarter. Reinhart Partners LLC. raised its holdings in Frontdoor by 1.8% in the 2nd quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company’s stock worth $78,762,000 after acquiring an additional 42,169 shares during the last quarter. Victory Capital Management Inc. lifted its position in Frontdoor by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock valued at $73,529,000 after acquiring an additional 173,624 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Frontdoor by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock valued at $60,402,000 after purchasing an additional 89,301 shares during the last quarter.

Analysts Set New Price Targets

FTDR has been the subject of several recent analyst reports. Truist Financial boosted their price target on Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 12th. William Blair raised shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Frontdoor has a consensus rating of “Hold” and an average price target of $47.75.

Frontdoor Price Performance

NASDAQ FTDR opened at $52.53 on Friday. The company has a 50-day moving average price of $47.99 and a 200-day moving average price of $39.52. Frontdoor, Inc. has a 52 week low of $28.25 and a 52 week high of $53.10. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $4.09 billion, a P/E ratio of 23.17 and a beta of 1.04.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.27. The business had revenue of $542.00 million during the quarter, compared to analysts’ expectations of $536.74 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 earnings per share. Equities research analysts anticipate that Frontdoor, Inc. will post 2.79 earnings per share for the current year.

Frontdoor Company 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.