Key Points
- Insider selling: Freedom Holding insider Azamat Yerdessov sold 16,800 shares for about $2.61 million at an average price of $155.48. After the sale, he still held 227,442 shares, trimming his position by 6.88%.
- Q4 earnings miss: The company reported quarterly EPS of $0.13, far below analysts’ expectation of $0.87. Revenue came in at $486.15 million, which beat estimates.
- Stock and analyst view: FRHC shares were down 4.4% and traded around $142.01, below the recent high of $194.01. Analysts currently rate the stock Hold with an average target price of $138.00.
Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) 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 value of $2,612,064.00. Following the completion of the transaction, the insider owned 227,442 shares of the company's stock, valued at approximately $35,362,682.16. This represents a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Freedom Stock Down 4.4%
NASDAQ FRHC opened at $142.01 on Tuesday. The stock has a market cap of $8.70 billion, a PE ratio of 56.58 and a beta of 0.69. Freedom Holding Corp. has a fifty-two week low of $107.97 and a fifty-two week high of $194.01. The business has a 50 day moving average price of $148.47 and a two-hundred day moving average price of $135.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03.
Freedom (NASDAQ:FRHC - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.74). The company had revenue of $486.15 million during the quarter, compared to analysts' expectations of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.
Institutional Trading of Freedom
Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Freedom by 188.6% during the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company's stock worth $13,094,000 after purchasing an additional 49,712 shares during the last quarter. Daytona Street Capital LLC bought a new stake in Freedom during the fourth quarter valued at $2,434,000. UBS Group AG increased its stake in Freedom by 139.7% during the fourth quarter. UBS Group AG now owns 27,810 shares of the company's stock valued at $3,384,000 after purchasing an additional 16,210 shares during the last quarter. Abacus Wealth Partners LLC acquired a new stake in shares of Freedom during the fourth quarter worth $254,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Freedom by 29.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 15,707 shares of the company's stock worth $1,911,000 after buying an additional 3,549 shares during the last quarter. Institutional investors and hedge funds own 1.26% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on FRHC shares. Loop Capital set a $138.00 target price on Freedom in a research note on Thursday, February 26th. KeyCorp restated a "market perform" rating on shares of Freedom in a research note on Friday. Finally, Weiss Ratings raised shares of Freedom from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $138.00.
Read Our Latest Research Report on Freedom
Freedom Company Profile
(
Get Free Report)
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.
Further Reading
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