Highland Capital Management LLC Invests $1.61 Million in Freedom Holding Corp. $FRHC

Highland Capital Management LLC bought a new position in Freedom Holding Corp. (NASDAQ:FRHC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,349 shares of the company’s stock, valued at approximately $1,609,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Freedom by 198.5% in the 2nd quarter. Geode Capital Management LLC now owns 159,904 shares of the company’s stock valued at $23,350,000 after purchasing an additional 106,338 shares during the period. Millennium Management LLC raised its holdings in Freedom by 648.1% during the 1st quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock worth $16,117,000 after buying an additional 105,641 shares during the period. Goldman Sachs Group Inc. lifted its stake in Freedom by 214.4% during the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock valued at $9,915,000 after buying an additional 51,159 shares in the last quarter. Bank of America Corp DE lifted its stake in Freedom by 71.8% during the second quarter. Bank of America Corp DE now owns 48,513 shares of the company’s stock valued at $7,085,000 after buying an additional 20,275 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Freedom in the first quarter worth about $2,480,000. 1.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FRHC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Freedom in a report on Monday. Wall Street Zen cut shares of Freedom from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Loop Capital set a $100.00 target price on shares of Freedom in a research note on Thursday, December 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freedom has a consensus rating of “Sell” and an average target price of $100.00.

Freedom Stock Performance

FRHC stock opened at $131.33 on Friday. The firm has a 50 day simple moving average of $139.66 and a 200 day simple moving average of $156.05. Freedom Holding Corp. has a 52 week low of $111.85 and a 52 week high of $194.01. The stock has a market cap of $8.03 billion, a P/E ratio of 2,188.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 1.16.

Freedom (NASDAQ:FRHC) last released its quarterly earnings data on Friday, November 7th. The company reported $0.63 earnings per share for the quarter. Freedom had a net margin of 0.23% and a return on equity of 0.38%. The firm had revenue of $526.11 million for the quarter.

Freedom 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.