Wasatch Advisors LP Makes New $56.51 Million Investment in Frontdoor, Inc. (NASDAQ:FTDR)

Wasatch Advisors LP bought a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,033,596 shares of the company's stock, valued at approximately $56,507,000. Wasatch Advisors LP owned 1.36% of Frontdoor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FTDR. Vanguard Group Inc. increased its holdings in Frontdoor by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,674,278 shares of the company's stock worth $528,893,000 after purchasing an additional 78,134 shares during the period. FIL Ltd increased its stake in shares of Frontdoor by 8.3% during the fourth quarter. FIL Ltd now owns 2,410,561 shares of the company's stock valued at $131,785,000 after buying an additional 184,051 shares during the period. Geode Capital Management LLC raised its holdings in shares of Frontdoor by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,127,553 shares of the company's stock valued at $116,336,000 after acquiring an additional 14,079 shares in the last quarter. Invesco Ltd. lifted its stake in Frontdoor by 7.6% in the fourth quarter. Invesco Ltd. now owns 833,342 shares of the company's stock worth $45,559,000 after acquiring an additional 59,025 shares during the period. Finally, Jupiter Asset Management Ltd. grew its holdings in Frontdoor by 7.1% during the 4th quarter. Jupiter Asset Management Ltd. now owns 419,109 shares of the company's stock worth $22,913,000 after acquiring an additional 27,610 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their price target 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. The Goldman Sachs Group lowered their target price on Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $50.25.

Frontdoor Price Performance

Shares of Frontdoor stock traded down $0.08 on Monday, hitting $39.56. The company's stock had a trading volume of 199,977 shares, compared to its average volume of 730,775. The firm has a fifty day moving average price of $43.42 and a 200-day moving average price of $51.43. Frontdoor, Inc. has a 1 year low of $30.31 and a 1 year high of $63.49. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 13.10 and a beta of 1.19. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current 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.