Freedom (NASDAQ:FRHC) Trading Up 11.9% – Time to Buy?

Freedom Holding Corp. (NASDAQ:FRHC) shares rose 11.9% during mid-day trading on Wednesday . The stock traded as high as $148.65 and last traded at $145.96. Approximately 73,485 shares changed hands during trading, a decline of 41% from the average daily volume of 124,738 shares. The stock had previously closed at $130.47.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings upgraded Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. KeyCorp restated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.00.

Freedom Trading Up 17.4%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day simple moving average is $143.56 and its 200 day simple moving average is $136.22. The stock has a market cap of $9.39 billion, a P/E ratio of 60.98 and a beta of 0.69.

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

Insider Buying and Selling at Freedom

In other news, Director Andrew Gamble sold 357 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $141.04, for a total value of $50,351.28. Following the sale, the director owned 677 shares in the company, valued at approximately $95,484.08. The trade was a 34.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Azamat Yerdessov sold 16,800 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $155.48, for a total transaction of $2,612,064.00. Following the completion of the sale, the insider directly owned 227,442 shares in the company, valued at approximately $35,362,682.16. The trade was a 6.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,957 shares of company stock worth $2,915,891 over the last three months. Company insiders own 70.00% of the company’s stock.

Institutional Trading of Freedom

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Freedom by 188.6% in the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after purchasing an additional 49,712 shares in the last quarter. Daytona Street Capital LLC acquired a new stake in shares of Freedom in the fourth quarter valued at $2,434,000. UBS Group AG raised its holdings in shares of Freedom by 139.7% in the fourth quarter. UBS Group AG now owns 27,810 shares of the company’s stock valued at $3,384,000 after buying an additional 16,210 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Freedom by 29.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 15,707 shares of the company’s stock valued at $1,911,000 after acquiring an additional 3,549 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Freedom by 15.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,845 shares of the company’s stock worth $346,000 after acquiring an additional 373 shares during the last quarter. 1.26% of the stock is owned by institutional investors.

Freedom Company Profile

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.