Freedom (NASDAQ:FRHC) Shares Down 5% – Time to Sell?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) dropped 5% on Monday. The company traded as low as $171.89 and last traded at $169.98. 25,749 shares were traded during trading, a decline of 79% from the average session volume of 123,123 shares. The stock had previously closed at $178.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FRHC. Wedbush set a $180.00 price target on shares of Freedom in a report on Thursday, August 6th. Weiss Ratings raised shares of Freedom from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, HC Wainwright restated a “buy” rating on shares of Freedom in a research report on Monday, July 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.00.

Freedom Stock Performance

The company has a market capitalization of $10.99 billion, a PE ratio of 67.50 and a beta of 0.68. The stock’s fifty day simple moving average is $172.46 and its 200-day simple moving average is $150.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 1.16.

Freedom (NASDAQ:FRHC) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Freedom had a return on equity of 10.96% and a net margin of 6.47%. The business had revenue of $554.96 million for the quarter, compared to analysts’ expectations of $124.14 million.

Insider Activity at Freedom

In related news, CFO Valeriy Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $169.31, for a total value of $846,550.00. Following the transaction, the chief financial officer owned 47,400 shares in the company, valued at approximately $8,025,294. This trade represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 69.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Freedom during the second quarter valued at $77,900,000. Bank of New York Mellon Corp purchased a new position in Freedom in the 2nd quarter worth about $6,301,000. Bank of America Corp DE purchased a new position in Freedom in the 2nd quarter worth about $5,577,000. Quantinno Capital Management LP raised its holdings in Freedom by 125.0% during the 1st quarter. Quantinno Capital Management LP now owns 28,196 shares of the company’s stock worth $4,085,000 after buying an additional 15,663 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Freedom during the 2nd quarter worth about $3,106,000. Institutional investors and hedge funds own 1.26% of the company’s stock.

About Freedom