Freedom (NASDAQ:FRHC) Trading Down 6.4% – What’s Next?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) were down 6.4% during mid-day trading on Monday . The company traded as low as $159.59 and last traded at $159.7950. 46,276 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 130,040 shares. The stock had previously closed at $170.66.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FRHC. KeyCorp reiterated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. HC Wainwright reissued a “buy” rating on shares of Freedom in a research report on Monday, July 20th. Weiss Ratings upgraded Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Wedbush set a $180.00 price objective on Freedom in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.00.

Freedom Stock Performance

The stock has a market capitalization of $10.91 billion, a P/E ratio of 67.60 and a beta of 0.67. The stock’s 50-day simple moving average is $151.51 and its 200 day simple moving average is $143.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16.

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

Insider Activity at Freedom

In other Freedom news, Director Andrew Gamble sold 357 shares of the firm’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 transaction of $50,351.28. Following the completion of the sale, the director directly owned 677 shares in the company, valued at $95,484.08. This trade represents a 34.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Azamat Yerdessov sold 16,800 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was 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 of the company’s stock, valued at approximately $35,362,682.16. This represents a 6.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,957 shares of company stock worth $2,915,891. Insiders own 69.80% of the company’s stock.

Hedge Funds Weigh In On Freedom

A number of large investors have recently made changes to their positions in FRHC. Xponance LLC increased its position in Freedom by 4.1% during the fourth quarter. Xponance LLC now owns 2,498 shares of the company’s stock worth $304,000 after acquiring an additional 98 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Freedom by 1.2% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 8,110 shares of the company’s stock valued at $987,000 after purchasing an additional 98 shares during the period. SG Americas Securities LLC boosted its holdings in Freedom by 10.3% in the 1st quarter. SG Americas Securities LLC now owns 1,274 shares of the company’s stock valued at $185,000 after purchasing an additional 119 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Freedom by 290.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. Finally, Federation des caisses Desjardins du Quebec grew its position in shares of Freedom by 18.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company’s stock worth $171,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 1.26% of the company’s stock.

About Freedom

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.