Is Frontdoor (FTDR) a Worthy Investment?

Investment management company Curreen Capital released its third quarter 2023 Investor letter. A copy of the same can be downloaded here. In the third quarter, the fund was down 0.95% compared to -3.27% for the S&P 500 Index. It had 40% of the fund in cash at the end of the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Curreen Capital highlighted stocks like Frontdoor, Inc. (NASDAQ:FTDR) in its Q3 2023 investor letter. Headquartered in Memphis, Tennessee, Frontdoor, Inc. (NASDAQ:FTDR) provides home service plans. On December 20, 2023, Frontdoor, Inc. (NASDAQ:FTDR) stock closed at $35.80 per share. One-month return of Frontdoor, Inc. (NASDAQ:FTDR) was 4.86%, and its shares gained 76.70% of their value over the last 52 weeks. Frontdoor, Inc. (NASDAQ:FTDR) has a market capitalization of $2.85 billion.

Curreen Capital made the following comment about Frontdoor, Inc. (NASDAQ:FTDR) in its Q3 2023 investor letter:

“Frontdoor, Inc. (NASDAQ:FTDR) sells home service plans to homeowners. The company contracts with HVAC and other contractors and dispatches them when customers have problems with one of their major home appliances and systems (furnace, air conditioning, refrigerator, electrical system, etc). Frontdoor spun out of ServiceMaster in October 2018. Frontdoor serves about 2% of U.S. homes, and uses its free cash flow to grow organically, pay down debt, repurchase shares, and more recently – to launch an app that connects service experts with customers on a video chat. Frontdoor currently trades at an attractive upside-to-downside ratio.”

A service technician with a tool belt, inspecting an HVAC unit in a customer’s home.

Frontdoor, Inc. (NASDAQ:FTDR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Frontdoor, Inc. (NASDAQ:FTDR) at the end of third quarter which was 30 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.