Freedom (NASDAQ:FRHC) Shares Down 6.4% – Here’s What Happened

Freedom Holding Corp. (NASDAQ:FRHC)’s stock price fell 6.4% on Monday . The company traded as low as $153.41 and last traded at $151.8110. 122,903 shares traded hands during trading, a decline of 4% from the average daily volume of 128,440 shares. The stock had previously closed at $162.21.

Analyst Upgrades and Downgrades

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

Freedom Price Performance

The business has a 50 day simple moving average of $143.78 and a two-hundred day simple moving average of $136.76. The firm has a market capitalization of $9.41 billion, a P/E ratio of 60.83 and a beta of 0.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03.

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

Insider Buying and Selling

In related news, insider Azamat Yerdessov sold 16,800 shares of the company’s 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 transaction, the insider owned 227,442 shares in the company, valued at $35,362,682.16. This 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 is available through this hyperlink. Also, CTO Renat Tukanov sold 1,800 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $140.82, for a total transaction of $253,476.00. Following the completion of the sale, the chief technology officer directly owned 10,200 shares of the company’s stock, valued at approximately $1,436,364. This represents a 15.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,957 shares of company stock valued at $2,915,891 over the last three months. 70.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FRHC. First Trust Advisors LP purchased a new position in shares of Freedom in the 3rd quarter worth about $31,591,000. Millennium Management LLC increased its holdings in shares of 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 purchasing an additional 105,641 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Freedom by 214.4% in the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock worth $9,915,000 after purchasing an additional 51,159 shares during the last quarter. JPMorgan Chase & Co. raised its position in Freedom by 188.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after buying an additional 49,712 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Freedom by 170.6% during the 4th quarter. AQR Capital Management LLC now owns 71,883 shares of the company’s stock valued at $8,747,000 after acquiring an additional 45,321 shares during the period. Hedge funds and other 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.