Freedom (NASDAQ:FRHC) Stock Price Down 4.9% on Insider Selling

Freedom Holding Corp. (NASDAQ:FRHC)’s share price dropped 4.9% during trading on Monday following insider selling activity. The company traded as low as $167.50 and last traded at $166.3350. 18,449 shares traded hands during trading, a decline of 86% from the average daily volume of 130,727 shares. The stock had previously closed at $174.85.

Specifically, CFO Valeriy Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $169.31, for a total value of $846,550.00. Following the sale, the chief financial officer directly owned 47,400 shares of the company’s stock, valued at $8,025,294. This trade represents a 9.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FRHC shares. Weiss Ratings cut shares of Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Wedbush set a $180.00 price objective on shares of Freedom in a research report on Thursday, August 6th. HC Wainwright reiterated a “buy” rating on shares of Freedom in a research report on Monday, July 20th. Finally, KeyCorp restated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $159.00.

Freedom Trading Down 4.9%

The firm’s 50-day simple moving average is $153.39 and its 200-day simple moving average is $144.85. The firm has a market capitalization of $10.61 billion, a PE ratio of 65.75 and a beta of 0.67. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.04.

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

Institutional Trading of Freedom

Several hedge funds and other institutional investors have recently bought and sold shares of FRHC. Quantinno Capital Management LP raised its holdings in Freedom by 125.0% during the 1st quarter. Quantinno Capital Management LP now owns 28,196 shares of the company’s stock valued at $4,085,000 after buying an additional 15,663 shares during the last quarter. UBS Group AG grew its holdings in Freedom by 139.7% in the 4th quarter. UBS Group AG now owns 27,810 shares of the company’s stock worth $3,384,000 after acquiring an additional 16,210 shares during the last quarter. Bank of America Corp DE increased 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 acquiring an additional 6,569 shares during the period. Hsbc Holdings PLC bought a new position in shares of Freedom during the second quarter valued at about $3,106,000. Finally, Odyssean LLC purchased a new stake in shares of Freedom during the second quarter worth about $2,807,000. 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.