Norges Bank Buys New Position in Frontdoor, Inc. (NASDAQ:FTDR)

Norges Bank acquired a new position in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 262,637 shares of the company's stock, valued at approximately $14,358,000. Norges Bank owned 0.35% of Frontdoor at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FTDR. USA Financial Formulas acquired a new stake in Frontdoor during the 4th quarter worth about $60,000. TD Private Client Wealth LLC bought a new stake in Frontdoor in the third quarter worth approximately $68,000. Blue Trust Inc. lifted its stake in Frontdoor by 315.3% in the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock valued at $89,000 after buying an additional 1,239 shares during the period. Nkcfo LLC bought a new position in shares of Frontdoor during the 4th quarter worth approximately $96,000. Finally, GAMMA Investing LLC grew its position in shares of Frontdoor by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 2,100 shares of the company's stock worth $115,000 after buying an additional 433 shares during the period.

Frontdoor Stock Up 0.8 %

FTDR stock traded up $0.32 during midday trading on Friday, reaching $39.92. 797,538 shares of the company's stock traded hands, compared to its average volume of 729,570. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The firm's fifty day moving average price is $45.36 and its 200-day moving average price is $51.68. Frontdoor, Inc. has a 52 week low of $29.41 and a 52 week high of $63.49. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 13.22 and a beta of 1.19.

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Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Monday, March 3rd. Truist Financial increased their price objective on shares of Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $50.25.

Frontdoor Company 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.