Freedom (NASDAQ:FRHC) Issues Earnings Results, Misses Estimates By $0.35 EPS

Freedom (NASDAQ:FRHC) released its quarterly earnings data on Monday. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.35), FiscalAI reports. Freedom had a net margin of 7.00% and a return on equity of 11.50%. The business had revenue of $554.96 million during the quarter, compared to the consensus estimate of $124.14 million.

Freedom Stock Performance

Shares of FRHC stock opened at $148.98 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. Freedom has a 12-month low of $107.97 and a 12-month high of $187.48. The stock has a market capitalization of $9.13 billion, a P/E ratio of 59.35 and a beta of 0.67. The firm’s 50 day moving average is $148.95 and its 200 day moving average is $141.05.

Insider Buying and Selling at Freedom

In other news, CTO Renat Tukanov sold 1,800 shares of the stock in a transaction 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 transaction, the chief technology officer directly owned 10,200 shares of the company’s stock, valued at $1,436,364. This represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $35,362,682.16. This trade represents a 6.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 18,957 shares of company stock worth $2,915,891. Insiders own 69.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its position 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 boosted its holdings in shares of Freedom by 11.5% in the fourth quarter. First Trust Advisors LP now owns 204,723 shares of the company’s stock worth $24,911,000 after buying an additional 21,191 shares during the last quarter. Geode Capital Management LLC grew its position in Freedom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 167,720 shares of the company’s stock valued at $20,405,000 after buying an additional 950 shares during the period. Millennium Management LLC grew its position in Freedom by 648.1% during the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after buying an additional 105,641 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings 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 during the last quarter. 1.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FRHC has been the subject of several recent analyst reports. Wedbush set a $180.00 price target on Freedom in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating on shares of Freedom in a research report on Monday, July 20th. KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Finally, Weiss Ratings upgraded Freedom from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Freedom has a consensus rating of “Hold” and an average target price 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.