ExodusPoint Capital Management LP Acquires Shares of 148,971 Frontdoor, Inc. (NASDAQ:FTDR)

ExodusPoint Capital Management LP bought a new position in Frontdoor, Inc. (NASDAQ:FTDR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 148,971 shares of the company’s stock, valued at approximately $8,144,000. ExodusPoint Capital Management LP owned about 0.20% of Frontdoor at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. USA Financial Formulas bought a new position in Frontdoor in the 4th quarter worth approximately $60,000. TD Private Client Wealth LLC bought a new stake in shares of Frontdoor during the third quarter worth $68,000. Blue Trust Inc. lifted its stake in shares of Frontdoor by 315.3% during the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock valued at $89,000 after acquiring an additional 1,239 shares during the period. Nkcfo LLC bought a new position in Frontdoor in the fourth quarter valued at about $96,000. Finally, GAMMA Investing LLC increased its position in Frontdoor by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 2,100 shares of the company’s stock worth $115,000 after purchasing an additional 433 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FTDR shares. The Goldman Sachs Group reduced their target price on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Monday, March 3rd. Truist Financial lifted their target price on shares of Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.25.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR opened at $37.96 on Friday. The firm’s 50 day simple moving average is $48.41 and its 200 day simple moving average is $52.14. Frontdoor, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $63.49. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 12.57 and a beta of 1.19. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42.

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.