Freedom (NASDAQ:FRHC) Stock Price Down 6.4% – Here’s What Happened

Freedom Holding Corp. (NASDAQ:FRHC)’s share price fell 6.4% during mid-day trading on Monday . The company traded as low as $153.41 and last traded at $151.8110. 122,903 shares changed hands during trading, a decline of 4% from the average daily volume of 128,440 shares. The stock had previously closed at $162.21.

Wall Street Analyst Weigh In

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

Freedom Stock Performance

The firm has a 50-day moving average price of $143.78 and a two-hundred day moving average price of $136.76. 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 firm has a market capitalization of $9.41 billion, a P/E ratio of 60.83 and a beta of 0.68.

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

Insider Buying and Selling

In other Freedom news, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 227,442 shares in the company, valued at $35,362,682.16. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew Gamble sold 357 shares of the company’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 owned 677 shares of the company’s stock, valued at $95,484.08. This represents a 34.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,957 shares of company stock valued at $2,915,891 over the last quarter. 70.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freedom

Several large investors have recently modified their holdings of FRHC. JPMorgan Chase & Co. raised its stake in Freedom by 188.6% in the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock valued at $13,094,000 after buying an additional 49,712 shares during the last quarter. Daytona Street Capital LLC acquired a new position in shares of Freedom during the fourth quarter valued at about $2,434,000. UBS Group AG increased its holdings in shares of Freedom by 139.7% during the fourth quarter. UBS Group AG now owns 27,810 shares of the company’s stock valued at $3,384,000 after acquiring an additional 16,210 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in shares of Freedom in the 4th quarter valued at approximately $254,000. Finally, State of New Jersey Common Pension Fund D boosted its stake 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 worth $1,911,000 after purchasing an additional 3,549 shares in the last quarter. Institutional investors own 1.26% of the company’s stock.

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.