Freedom (NASDAQ:FRHC) Shares Up 11.9% – Still a Buy?

Freedom Holding Corp. (NASDAQ:FRHC) was up 11.9% during trading on Wednesday . The company traded as high as $148.65 and last traded at $145.96. 73,485 shares were traded during mid-day trading, a decline of 41% from the average session volume of 124,738 shares. The stock had previously closed at $130.47.

Wall Street Analyst Weigh In

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

Freedom Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day moving average price is $143.56 and its two-hundred day moving average price is $136.22. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 60.98 and a beta of 0.69.

Freedom (NASDAQ:FRHC) last announced its earnings results on Tuesday, June 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.74). Freedom had a return on equity of 11.50% and a net margin of 7.00%.The firm had revenue of $486.15 million during the quarter, compared to the consensus estimate of $124.14 million.

Insider Buying and Selling

In related news, insider Azamat Yerdessov sold 16,800 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $155.48, for a total transaction of $2,612,064.00. Following the completion of the sale, the insider owned 227,442 shares in the company, valued at $35,362,682.16. This represents a 6.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Renat Tukanov sold 1,800 shares of the firm’s 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 completion of the sale, the chief technology officer directly owned 10,200 shares in the company, valued at $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 valued at $2,915,891. Insiders own 70.00% of the company’s stock.

Hedge Funds Weigh In On Freedom

A number of institutional investors and hedge funds have recently bought and sold shares of FRHC. 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. Parallel Advisors LLC increased its holdings in shares of Freedom by 476.2% during the 1st 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 raised its position in shares of Freedom by 111.7% during the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock valued at $62,000 after buying an additional 267 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Freedom by 67.2% in the first 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 period. Finally, Barclays PLC lifted its stake in shares of Freedom by 600.8% in the fourth quarter. Barclays PLC now owns 904 shares of the company’s stock valued at $110,000 after buying an additional 775 shares during the period. 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.