Odyssean LLC Makes New Investment in Freedom Holding Corp. $FRHC

Odyssean LLC purchased a new stake in Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 21,511 shares of the company’s stock, valued at approximately $2,807,000.

Several other large investors also recently made changes to their positions in the business. Quantinno Capital Management LP grew its stake in shares of Freedom by 125.0% in the 1st quarter. Quantinno Capital Management LP now owns 28,196 shares of the company’s stock worth $4,085,000 after purchasing an additional 15,663 shares during the last quarter. UBS Group AG lifted 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. GSA Capital Partners LLP acquired a new stake in Freedom during the second quarter valued at approximately $682,000. Abacus Wealth Partners LLC bought a new stake in Freedom during the fourth quarter worth approximately $254,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Freedom by 29.2% during the fourth 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 in the last quarter. Institutional investors own 1.26% of the company’s stock.

Insider Buying and Selling at Freedom

In other news, 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 value of $253,476.00. Following the sale, the chief technology officer directly owned 10,200 shares of the company’s stock, valued at approximately $1,436,364. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Gamble sold 357 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $141.04, for a total value of $50,351.28. Following the sale, the director owned 677 shares of the company’s stock, valued at approximately $95,484.08. The trade was a 34.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,957 shares of company stock worth $2,915,891 over the last ninety days. Company insiders own 69.80% of the company’s stock.

Freedom Stock Up 8.6%

Shares of Freedom stock opened at $171.02 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 67.60 and a beta of 0.67. The stock has a 50-day simple moving average of $151.51 and a 200-day simple moving average of $143.75. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $181.88.

Freedom (NASDAQ:FRHC) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Freedom had a return on equity of 10.96% and a net margin of 6.47%.The company had revenue of $554.96 million during the quarter, compared to analyst estimates of $124.14 million.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wedbush set a $180.00 price target on Freedom in a report on Thursday, August 6th. HC Wainwright reissued a “buy” rating on shares of Freedom in a research note on Monday, July 20th. KeyCorp restated a “market perform” rating on shares of Freedom in a 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $159.00.

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.