Arrowstreet Capital Limited Partnership Cuts Stock Position in Frontdoor, Inc. (NASDAQ:FTDR)

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,455,183 shares of the company’s stock after selling 842 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Frontdoor were worth $79,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FTDR. BNP Paribas Financial Markets lifted its stake in Frontdoor by 15.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 179,858 shares of the company’s stock valued at $8,631,000 after buying an additional 23,922 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Frontdoor by 108.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,248 shares of the company’s stock worth $1,740,000 after acquiring an additional 18,849 shares during the last quarter. Martingale Asset Management L P purchased a new stake in shares of Frontdoor during the third quarter worth approximately $238,000. Verition Fund Management LLC raised its stake in Frontdoor by 255.5% in the 3rd quarter. Verition Fund Management LLC now owns 21,757 shares of the company’s stock valued at $1,044,000 after purchasing an additional 15,637 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Frontdoor in the 3rd quarter valued at $656,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped 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. The Goldman Sachs Group dropped their price objective on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Frontdoor has an average rating of “Hold” and a consensus price target of $50.25.

Frontdoor Stock Performance

Shares of FTDR stock opened at $38.42 on Tuesday. The firm has a 50 day moving average of $49.99 and a two-hundred day moving average of $52.46. The stock has a market capitalization of $2.87 billion, a PE ratio of 12.72 and a beta of 1.18. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a 52 week low of $29.41 and a 52 week high of $63.49.

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.