UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Holdings in Freedom Holding Corp. $FRHC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Freedom Holding Corp. (NASDAQ:FRHC) by 8.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 32,362 shares of the company’s stock after selling 3,126 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.05% of Freedom worth $4,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after acquiring an additional 154 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Freedom by 476.2% during the first quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Freedom by 111.7% during the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after purchasing an additional 267 shares in the last quarter. CoreCap Advisors LLC purchased a new position in shares of Freedom in the second quarter valued at $78,000. Finally, Royal Bank of Canada boosted its stake in shares of Freedom by 67.2% in the first quarter. Royal Bank of Canada now owns 587 shares of the company’s stock valued at $85,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 1.26% of the company’s stock.

Freedom Stock Up 0.3%

Shares of NASDAQ:FRHC opened at $162.43 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $158.20 and a 200 day simple moving average of $147.68. The firm has a market cap of $10.36 billion, a PE ratio of 64.20 and a beta of 0.69. Freedom Holding Corp. has a 12-month low of $107.97 and a 12-month high of $177.15.

Freedom (NASDAQ:FRHC) last posted its quarterly 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 company had revenue of $554.96 million during the quarter, compared to analyst estimates of $124.14 million. Freedom had a net margin of 6.47% and a return on equity of 10.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush set a $180.00 price target on shares of Freedom in a research note on Thursday, August 6th. KeyCorp reissued a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Weiss Ratings downgraded Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Freedom in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Freedom presently has a consensus rating of “Hold” and a consensus price target of $159.00.

Insider Activity

In other news, CTO Renat Tukanov sold 1,800 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $140.82, for a total transaction of $253,476.00. Following the transaction, the chief technology officer 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 is accessible through this hyperlink. Also, Director Andrew Gamble sold 357 shares of Freedom 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. This trade represents a 34.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,157 shares of company stock worth $1,150,377. 69.80% of the stock is currently owned by corporate insiders.

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.