Freedom (NASDAQ:FRHC) Trading 6.9% Higher – Here’s What Happened

Freedom Holding Corp. (NASDAQ:FRHC) shares shot up 6.9% on Wednesday . The stock traded as high as $157.53 and last traded at $159.2550. 142,516 shares were traded during trading, an increase of 6% from the average session volume of 134,362 shares. The stock had previously closed at $148.91.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FRHC shares. KeyCorp reiterated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Weiss Ratings raised Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Freedom presently has a consensus rating of “Hold” and a consensus price target of $138.00.

Freedom Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $145.13 and its 200 day moving average is $137.90. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 63.11 and a beta of 0.68.

Freedom (NASDAQ:FRHC) last announced its 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). Freedom had a return on equity of 11.50% and a net margin of 7.00%.The business had revenue of $486.15 million for the quarter, compared to analyst estimates of $124.14 million.

Insider Transactions at Freedom

In related news, CTO Renat Tukanov sold 1,800 shares of Freedom stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total transaction of $253,476.00. Following the completion of the transaction, the chief technology officer directly owned 10,200 shares in the company, valued at $1,436,364. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew Gamble sold 357 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 677 shares in the company, valued at approximately $95,484.08. The trade was a 34.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,957 shares of company stock valued at $2,915,891 in the last ninety days. Corporate insiders own 70.00% of the company’s stock.

Institutional Trading of Freedom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRHC. CoreCap Advisors LLC purchased a new position in Freedom in the 2nd quarter valued at about $78,000. Parallel Advisors LLC raised its position in shares of 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 buying an additional 300 shares during the last quarter. Bank of America Corp DE raised its position in shares of Freedom by 19.6% in the first quarter. Bank of America Corp DE now owns 40,070 shares of the company’s stock valued at $5,805,000 after buying an additional 6,569 shares during the last quarter. Amundi lifted its stake in shares of Freedom by 9.8% during the first quarter. Amundi now owns 15,769 shares of the company’s stock valued at $2,285,000 after buying an additional 1,408 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Freedom by 67.2% during the first quarter. Royal Bank of Canada now owns 587 shares of the company’s stock valued at $85,000 after buying an additional 236 shares during the period. Hedge funds and other 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.