Quantbot Technologies LP Takes Position in Freedom Holding Corp. $FRHC

Quantbot Technologies LP purchased a new stake in Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,957 shares of the company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FRHC. Caitong International Asset Management Co. Ltd increased its holdings in Freedom by 290.6% during the 4th 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 lifted its holdings in shares of Freedom by 476.2% in the 1st quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN lifted its holdings 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 period. CoreCap Advisors LLC bought a new position in shares of Freedom during the 2nd quarter worth $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 worth $85,000 after buying an additional 236 shares in the last quarter. Institutional investors own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

FRHC has been the subject of several recent research reports. KeyCorp restated a “market perform” rating on shares of Freedom in a report on Friday, June 5th. HC Wainwright reiterated a “buy” rating on shares of Freedom in a report on Monday, July 20th. Weiss Ratings downgraded shares of Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Wedbush set a $180.00 price target on shares of Freedom in a report 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 company’s stock. According to MarketBeat.com, Freedom has an average rating of “Hold” and a consensus target price of $159.00.

Freedom Price Performance

NASDAQ FRHC opened at $174.85 on Friday. The firm’s fifty day simple moving average is $153.39 and its two-hundred day simple moving average is $144.69. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04. Freedom Holding Corp. has a 12-month low of $107.97 and a 12-month high of $181.88. The firm has a market capitalization of $11.15 billion, a P/E ratio of 69.11 and a beta of 0.67.

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

Insiders Place Their Bets

In other Freedom news, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 227,442 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Renat Tukanov sold 1,800 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $140.82, for a total value of $253,476.00. Following the sale, the chief technology officer owned 10,200 shares in the company, valued at $1,436,364. The trade was a 15.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 23,957 shares of company stock valued at $3,762,441. 69.80% of the stock is currently owned by corporate insiders.

Freedom 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.