ExodusPoint Capital Management LP Takes Position in Frontdoor, Inc. (NASDAQ:FTDR)

ExodusPoint Capital Management LP bought a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 148,971 shares of the company’s stock, valued at approximately $8,144,000.

Several other hedge funds have also recently bought and sold shares of FTDR. Verition Fund Management LLC increased its position in shares of Frontdoor by 255.5% during the third quarter. Verition Fund Management LLC now owns 21,757 shares of the company’s stock worth $1,044,000 after acquiring an additional 15,637 shares in the last quarter. Edgestream Partners L.P. bought a new position in Frontdoor during the 3rd quarter worth about $656,000. Centiva Capital LP raised its stake in shares of Frontdoor by 100.3% in the 3rd quarter. Centiva Capital LP now owns 15,914 shares of the company’s stock valued at $764,000 after purchasing an additional 7,968 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Frontdoor by 43.1% in the third quarter. Janus Henderson Group PLC now owns 90,542 shares of the company’s stock valued at $4,347,000 after purchasing an additional 27,280 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its position in shares of Frontdoor by 126.6% during the third quarter. Point72 DIFC Ltd now owns 6,917 shares of the company’s stock worth $332,000 after buying an additional 3,864 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FTDR. Truist Financial lifted their target price on Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group cut their price objective 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Frontdoor has a consensus 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 company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a 50 day moving average price of $48.41 and a 200 day moving average price of $52.14. The stock has a market capitalization of $2.83 billion, a PE ratio of 12.57 and a beta of 1.19. Frontdoor, Inc. has a 52 week low of $29.41 and a 52 week high of $63.49.

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.