Public Employees Retirement System of Ohio Purchases Shares of 5,145 Freedom Holding Corp. $FRHC

Public Employees Retirement System of Ohio acquired a new stake in Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,145 shares of the company’s stock, valued at approximately $671,000.

A number of other large investors also recently added to or reduced their stakes in the business. Corient Private Wealth LP bought a new stake in Freedom in the second quarter worth $746,000. Bank of America Corp DE bought a new position in shares of Freedom during the second quarter valued at about $5,577,000. Odyssean LLC purchased a new position in shares of Freedom in the second quarter worth about $2,807,000. Jupiter Topco LLC purchased a new position in shares of Freedom in the second quarter worth about $1,099,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Freedom in the 2nd quarter valued at about $3,106,000. Hedge funds and other institutional investors own 1.26% of the company’s stock.

Freedom Price Performance

Shares of Freedom stock opened at $162.43 on Thursday. The business has a 50 day moving average of $158.20 and a 200 day moving average of $147.68. Freedom Holding Corp. has a 52 week low of $107.97 and a 52 week high of $177.15. The company has a market cap of $10.36 billion, a PE ratio of 64.20 and a beta of 0.69. 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 quarterly earnings results 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). 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.

Insider Activity at Freedom

In other Freedom news, CTO Renat Tukanov sold 1,800 shares of Freedom stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total transaction of $253,476.00. Following the sale, the chief technology officer directly owned 10,200 shares of the company’s stock, valued at approximately $1,436,364. The trade was a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Valeriy Kim sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $169.31, for a total value of $846,550.00. Following the transaction, the chief financial officer owned 47,400 shares in the company, valued at $8,025,294. This trade represents a 9.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,157 shares of company stock worth $1,150,377 over the last 90 days. 69.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush set a $180.00 price target on Freedom in a research report on Thursday, August 6th. Weiss Ratings cut shares of Freedom from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. KeyCorp reiterated a “market perform” rating on shares of Freedom in a report on Friday, June 5th. Finally, HC Wainwright reissued a “buy” rating on shares of Freedom in a report on Monday, July 20th. 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, the company has a consensus rating of “Hold” and an average price target of $159.00.

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.