Summit Global Investments Sells 872 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Summit Global Investments trimmed its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 2.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,370 shares of the company’s stock after selling 872 shares during the quarter. Summit Global Investments’ holdings in Frontdoor were worth $1,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. TD Private Client Wealth LLC boosted its holdings in shares of Frontdoor by 12.9% during the 4th quarter. TD Private Client Wealth LLC now owns 1,597 shares of the company’s stock worth $87,000 after buying an additional 183 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Frontdoor by 1.7% during the 4th quarter. Teacher Retirement System of Texas now owns 230,986 shares of the company’s stock worth $12,628,000 after buying an additional 3,944 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Frontdoor during the 4th quarter worth approximately $862,000. Xponance Inc. boosted its holdings in shares of Frontdoor by 10.9% during the 4th quarter. Xponance Inc. now owns 5,686 shares of the company’s stock worth $311,000 after buying an additional 557 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Frontdoor by 129.1% during the 4th quarter. Intech Investment Management LLC now owns 49,709 shares of the company’s stock worth $2,718,000 after buying an additional 28,012 shares in the last quarter.

Analyst Upgrades and Downgrades

FTDR has been the topic of a number of research analyst reports. Truist Financial increased their price target on Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, February 14th. The Goldman Sachs Group cut their target price on Frontdoor from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontdoor has a consensus rating of “Hold” and a consensus target price of $50.25.

Frontdoor Price Performance

Shares of FTDR opened at $38.09 on Friday. The stock has a market cap of $2.85 billion, a P/E ratio of 12.61 and a beta of 1.18. The business’s fifty day moving average is $52.25 and its 200 day moving average is $52.83. Frontdoor, Inc. has a 12-month low of $29.41 and a 12-month high of $63.49. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16.

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.