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

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

Wall Street Analyst Weigh In

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

Freedom Stock Performance

The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 63.27 and a beta of 0.68. 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 has a 50-day simple moving average of $143.97 and a 200-day simple moving average of $137.03.

Freedom (NASDAQ:FRHC) last issued its quarterly 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 company had revenue of $486.15 million during the quarter, compared to the consensus estimate of $124.14 million.

Insider Transactions at Freedom

In related news, Director Andrew Gamble sold 357 shares of the business’s stock in a transaction dated 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 directly owned 677 shares of the company’s stock, valued at $95,484.08. The trade was a 34.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Azamat Yerdessov sold 16,800 shares of the company’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 $35,362,682.16. The trade was a 6.88% 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 valued at $2,915,891. Insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Freedom

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares during the period. Parallel Advisors LLC raised its holdings in shares of Freedom by 476.2% during the first quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after purchasing an additional 300 shares during the period. Wells Fargo & Company MN lifted its position in shares of Freedom by 111.7% in the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after buying an additional 267 shares during the last quarter. CoreCap Advisors LLC acquired a new position in shares of Freedom in the 2nd quarter valued at about $78,000. Finally, Royal Bank of Canada grew its position in shares of Freedom by 67.2% during the 1st 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 last quarter. 1.26% of the stock is currently owned by institutional investors.

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.