Freedom (NASDAQ:FRHC) Posts Quarterly Earnings Results, Misses Estimates By $0.35 EPS

Freedom (NASDAQ:FRHC) released its quarterly earnings results on Monday. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35), FiscalAI reports. The company had revenue of $554.96 million for the quarter, compared to analyst estimates of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.

Freedom Stock Performance

Shares of FRHC opened at $148.98 on Monday. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 59.35 and a beta of 0.67. The firm has a fifty day moving average of $148.95 and a 200-day moving average of $141.05. Freedom has a 1 year low of $107.97 and a 1 year high of $187.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03.

Insiders Place Their Bets

In other Freedom news, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.48, for a total value of $2,612,064.00. Following the sale, the insider owned 227,442 shares in the company, valued at approximately $35,362,682.16. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Renat Tukanov sold 1,800 shares of Freedom stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $140.82, for a total value of $253,476.00. Following the sale, the chief technology officer directly owned 10,200 shares in the company, valued at approximately $1,436,364. This trade represents a 15.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 18,957 shares of company stock worth $2,915,891. Insiders own 69.80% of the company’s stock.

Institutional Trading of Freedom

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Freedom by 2.3% during the 4th quarter. State Street Corp now owns 213,325 shares of the company’s stock worth $25,957,000 after acquiring an additional 4,871 shares during the period. First Trust Advisors LP increased its holdings in shares of Freedom by 11.5% during the fourth quarter. First Trust Advisors LP now owns 204,723 shares of the company’s stock valued at $24,911,000 after purchasing an additional 21,191 shares during the period. Geode Capital Management LLC raised its stake in shares of Freedom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 167,720 shares of the company’s stock valued at $20,405,000 after purchasing an additional 950 shares in the last quarter. Millennium Management LLC raised its stake in shares of Freedom by 648.1% during the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after purchasing an additional 105,641 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Freedom by 214.4% in the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock worth $9,915,000 after purchasing an additional 51,159 shares during the period. Institutional investors own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

FRHC has been the topic of several recent analyst reports. Wedbush set a $180.00 price target on shares of Freedom in a report on Thursday. KeyCorp reissued a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. HC Wainwright restated a “buy” rating on shares of Freedom in a research note on Monday, July 20th. Finally, Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $159.00.

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.