Legal & General Group Plc Acquires New Position in Freedom Holding Corp. $FRHC

Legal & General Group Plc bought a new position in Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, according to its most recent filing with the SEC. The firm bought 15,600 shares of the company’s stock, valued at approximately $2,035,000.

Several other large investors also recently bought and sold shares of FRHC. Xponance LLC increased its stake in Freedom by 4.1% during the 4th quarter. Xponance LLC now owns 2,498 shares of the company’s stock valued at $304,000 after purchasing an additional 98 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Freedom by 1.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 8,110 shares of the company’s stock worth $987,000 after buying an additional 98 shares during the period. SG Americas Securities LLC grew its holdings in shares of Freedom by 10.3% during the first quarter. SG Americas Securities LLC now owns 1,274 shares of the company’s stock valued at $185,000 after buying an additional 119 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Freedom by 290.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after buying an additional 154 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of Freedom by 18.2% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company’s stock valued at $171,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

FRHC has been the subject of a number of research analyst reports. Wedbush set a $180.00 target price on Freedom in a research note on Thursday, August 6th. Weiss Ratings downgraded Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. HC Wainwright reissued a “buy” rating on shares of Freedom in a report on Monday, July 20th. Finally, KeyCorp restated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Freedom has a consensus rating of “Hold” and a consensus price target of $159.00.

Insider Buying and Selling at Freedom

In other news, Director Andrew Gamble sold 357 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $141.04, for a total value of $50,351.28. Following the completion of the transaction, the director owned 677 shares of the company’s stock, valued at $95,484.08. The trade was a 34.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Valeriy Kim sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $169.31, for a total value of $846,550.00. Following the completion of the sale, the chief financial officer owned 47,400 shares in the company, valued at $8,025,294. The trade was a 9.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 7,157 shares of company stock worth $1,150,377. Insiders own 69.80% of the company’s stock.

Freedom Price Performance

NASDAQ:FRHC opened at $164.54 on Monday. The firm has a market capitalization of $10.50 billion, a P/E ratio of 65.04 and a beta of 0.69. Freedom Holding Corp. has a 1-year low of $107.97 and a 1-year high of $177.15. The company’s fifty day moving average price is $156.77 and its 200-day moving average price is $146.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16.

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

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.