KLP Kapitalforvaltning AS Takes Position in Frontdoor, Inc. (NASDAQ:FTDR)

KLP Kapitalforvaltning AS purchased a new stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,500 shares of the company’s stock, valued at approximately $1,831,000.

Several other hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in Frontdoor during the 4th quarter worth about $60,000. TD Private Client Wealth LLC bought a new stake in shares of Frontdoor during the third quarter worth approximately $68,000. Blue Trust Inc. lifted its holdings 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 Frontdoor in the fourth quarter valued at approximately $96,000. Finally, GAMMA Investing LLC grew its holdings in 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 acquiring an additional 433 shares during the period.

Frontdoor Price Performance

Shares of FTDR opened at $38.04 on Friday. 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 company’s fifty day simple moving average is $50.81 and its 200 day simple moving average is $52.53. Frontdoor, Inc. has a 1-year low of $29.41 and a 1-year high of $63.49. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 12.60 and a beta of 1.18.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FTDR. The Goldman Sachs Group reduced their price target on 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 boosted their target price on Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One 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. Based on data from MarketBeat.com, Frontdoor presently has a consensus rating of “Hold” and a consensus price target of $50.25.

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.