Olympiad Research LP Cuts Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Olympiad Research LP lowered its position in Frontdoor, Inc. (NASDAQ:FTDR) by 51.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,115 shares of the company’s stock after selling 6,448 shares during the quarter. Olympiad Research LP’s holdings in Frontdoor were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Frontdoor Price Performance

Shares of Frontdoor stock opened at $56.99 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The company has a market cap of $4.36 billion, a PE ratio of 18.87 and a beta of 1.03. The business has a 50 day moving average of $49.41 and a 200 day moving average of $41.71. Frontdoor, Inc. has a 52 week low of $29.41 and a 52 week high of $58.17.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.33. The company had revenue of $540.00 million during the quarter, compared to the consensus estimate of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, equities research analysts forecast that Frontdoor, Inc. will post 2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday. Truist Financial boosted their price objective on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.50.

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.