Freedom (NASDAQ:FRHC) Director Sells 357 Shares

Freedom Holding Corp. (NASDAQ:FRHC) Director Andrew Gamble sold 357 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $141.04, for a total value of $50,351.28. Following the completion of the sale, the director directly owned 677 shares in the company, valued at $95,484.08. This trade represents a 34.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Freedom Stock Performance

Shares of Freedom stock traded down $3.75 during trading on Wednesday, hitting $135.45. 157,903 shares of the company’s stock traded hands, compared to its average volume of 125,539. The stock has a market capitalization of $8.30 billion, a P/E ratio of 53.96 and a beta of 0.69. The business has a 50-day simple moving average of $146.33 and a 200-day simple moving average of $136.32. Freedom Holding Corp. has a 1 year low of $107.97 and a 1 year high of $194.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03.

Freedom (NASDAQ:FRHC) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.74). The firm had revenue of $486.15 million during the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of Freedom by 290.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after acquiring an additional 154 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Freedom by 476.2% in the first quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Freedom by 111.7% during the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after acquiring an additional 267 shares during the period. Royal Bank of Canada grew its stake in shares of Freedom by 67.2% during the 1st quarter. Royal Bank of Canada now owns 587 shares of the company’s stock worth $85,000 after purchasing an additional 236 shares during the period. Finally, Barclays PLC increased its holdings in Freedom by 600.8% in the fourth quarter. Barclays PLC now owns 904 shares of the company’s stock valued at $110,000 after buying an additional 775 shares in the last quarter. 1.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FRHC has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Finally, Loop Capital set a $138.00 price objective on Freedom in a report on Thursday, February 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Freedom presently has an average rating of “Hold” and a consensus target price of $138.00.

About Freedom

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.