Freedom (NASDAQ:FRHC) Announces Quarterly Earnings Results

Freedom (NASDAQ:FRHC) posted its earnings results on Monday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.74), FiscalAI reports. Freedom had a return on equity of 0.21% and a net margin of 0.13%.The firm had revenue of $486.15 million during the quarter, compared to analysts’ expectations of $124.14 million.

Freedom Price Performance

FRHC stock opened at $150.47 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.15 and a current ratio of 1.15. Freedom has a 52 week low of $107.97 and a 52 week high of $194.01. The firm’s fifty day moving average is $147.38 and its 200 day moving average is $135.32. The firm has a market cap of $9.21 billion, a P/E ratio of 7,523.50 and a beta of 0.72.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FRHC shares. Loop Capital set a $138.00 target price on shares of Freedom in a research note on Thursday, February 26th. Weiss Ratings raised shares of Freedom from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $138.00.

Hedge Funds Weigh In On Freedom

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Freedom by 2.3% during the 4th quarter. State Street Corp now owns 213,325 shares of the company’s stock valued at $25,957,000 after purchasing an additional 4,871 shares during the last quarter. First Trust Advisors LP grew its holdings in Freedom by 11.5% in the 4th quarter. First Trust Advisors LP now owns 204,723 shares of the company’s stock worth $24,911,000 after acquiring an additional 21,191 shares during the last quarter. Geode Capital Management LLC grew its holdings in Freedom by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 167,720 shares of the company’s stock worth $20,405,000 after acquiring an additional 950 shares during the last quarter. Millennium Management LLC grew its holdings in Freedom by 648.1% in the 1st quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock worth $16,117,000 after acquiring an additional 105,641 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Freedom by 214.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock worth $9,915,000 after acquiring an additional 51,159 shares during the last quarter. 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.