Legato Capital Management LLC Acquires 7,718 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Legato Capital Management LLC boosted its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 49.4% during the second quarter, Holdings Channel.com reports. The fund owned 23,332 shares of the company’s stock after acquiring an additional 7,718 shares during the quarter. Legato Capital Management LLC’s holdings in Frontdoor were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock valued at $30,000 after buying an additional 418 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Frontdoor by 288.6% during the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after purchasing an additional 857 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Frontdoor during the 4th quarter valued at about $71,000. Quadrant Capital Group LLC grew its position in shares of Frontdoor by 13.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after purchasing an additional 341 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Frontdoor in the second quarter worth about $143,000.

Analyst Ratings Changes

FTDR has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. The Goldman Sachs Group boosted their price objective on Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. Truist Financial boosted their price objective on shares of Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on shares of Frontdoor from $36.00 to $39.00 and gave the company 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 assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.75.

Frontdoor Price Performance

Shares of FTDR stock opened at $48.60 on Wednesday. The stock has a 50 day moving average price of $39.69 and a 200 day moving average price of $35.34. The firm has a market capitalization of $3.78 billion, a P/E ratio of 21.32 and a beta of 0.99. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.14 and a current ratio of 1.27. Frontdoor, Inc. has a 52-week low of $28.25 and a 52-week high of $49.21.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.27. The business had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. As a group, sell-side analysts predict that Frontdoor, Inc. will post 2.52 earnings per share for the current year.

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.