Martingale Asset Management L P Increases Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Martingale Asset Management L P lifted its position in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 818.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,466 shares of the company's stock after purchasing an additional 40,516 shares during the period. Martingale Asset Management L P owned about 0.06% of Frontdoor worth $2,486,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Frontdoor by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,674,278 shares of the company's stock valued at $528,893,000 after acquiring an additional 78,134 shares in the last quarter. FIL Ltd boosted its holdings in Frontdoor by 8.3% in the fourth quarter. FIL Ltd now owns 2,410,561 shares of the company's stock valued at $131,785,000 after purchasing an additional 184,051 shares during the period. Geode Capital Management LLC lifted its stake in 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 buying an additional 14,079 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Frontdoor by 7.6% in the 4th quarter. Invesco Ltd. now owns 833,342 shares of the company's stock valued at $45,559,000 after purchasing an additional 59,025 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Frontdoor by 7.1% during the fourth 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 during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FTDR. Truist Financial raised 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 reduced their price objective on Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $50.25.

Frontdoor Stock Performance

Frontdoor stock traded down $0.62 during midday trading on Wednesday, reaching $39.43. 171,862 shares of the stock traded hands, compared to its average volume of 727,590. Frontdoor, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $63.49. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The firm has a fifty day moving average price of $44.55 and a two-hundred day moving average price of $51.56. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 13.06 and a beta of 1.19.

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.