Freedom (NASDAQ:FRHC) Stock Falls 5% – Here’s Why

Freedom Holding Corp. (NASDAQ:FRHC)’s stock price traded down 5% during trading on Monday. The company traded as low as $171.89 and last traded at $169.98. Approximately 25,749 shares were traded during mid-day trading, a decline of 79% from the average session volume of 123,123 shares. The stock had previously closed at $178.85.

Analysts Set New Price Targets

FRHC has been the subject of several recent research reports. Wedbush set a $180.00 price target on shares of Freedom in a research note on Thursday, August 6th. Weiss Ratings raised Freedom from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, HC Wainwright reiterated a “buy” rating on shares of Freedom in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $159.00.

Freedom Stock Down 5.2%

The firm has a market cap of $10.56 billion, a PE ratio of 65.40 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50-day simple moving average is $172.27 and its two-hundred day simple moving average is $150.60.

Freedom (NASDAQ:FRHC) last posted 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). Freedom had a return on equity of 10.96% and a net margin of 6.47%. The business had revenue of $554.96 million during the quarter, compared to the consensus estimate of $124.14 million.

Insider Buying and Selling

In related news, CFO Valeriy Kim sold 5,000 shares of Freedom stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $169.31, for a total value of $846,550.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 69.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC purchased a new position in shares of Freedom during the third quarter valued at about $429,000. Commonwealth Equity Services LLC purchased a new stake in Freedom in the third quarter worth about $231,000. Covestor Ltd lifted its holdings in Freedom by 662.2% in the third quarter. Covestor Ltd now owns 564 shares of the company’s stock worth $94,000 after buying an additional 490 shares during the period. Wedmont Private Capital lifted its holdings in Freedom by 9.7% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the company’s stock worth $295,000 after buying an additional 156 shares during the period. Finally, GAMMA Investing LLC boosted its position in Freedom by 28.5% during the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock valued at $71,000 after acquiring an additional 94 shares in the last quarter. 1.26% of the stock is currently owned by institutional investors.

Freedom Company Profile

Freedom Holding Corp. is a financial services and technology company that provides securities brokerage, investment banking, market research and related services. Through its subsidiaries, it also offers retail banking, insurance and digital financial products. The company serves customers in Kazakhstan and other markets in Central Asia and Europe, as well as clients through its international brokerage operations. In Kazakhstan, Freedom has been developing a digital ecosystem that brings together financial services with offerings such as travel and entertainment.