Freedom (NASDAQ:FRHC) Director Sells $50,351.28 in Stock

Freedom Holding Corp. (NASDAQ:FRHC) Director Andrew Gamble sold 357 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $141.04, for a total transaction of $50,351.28. Following the transaction, the director directly owned 677 shares in the company, valued at approximately $95,484.08. The trade was a 34.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Freedom Price Performance

Shares of FRHC traded down $3.75 during trading hours on Wednesday, hitting $135.45. 157,903 shares of the stock were exchanged, compared to its average volume of 125,539. Freedom Holding Corp. has a 12-month low of $107.97 and a 12-month high of $194.01. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 53.96 and a beta of 0.69. The stock’s 50-day moving average price is $146.33 and its two-hundred day moving average price is $136.32. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03.

Freedom (NASDAQ:FRHC) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.74). Freedom had a return on equity of 11.50% and a net margin of 7.00%.The business had revenue of $486.15 million during the quarter, compared to analysts’ expectations of $124.14 million.

Hedge Funds Weigh In On Freedom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in Freedom by 476.2% in the 1st quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Bank of America Corp DE lifted its position in Freedom by 19.6% in the first quarter. Bank of America Corp DE now owns 40,070 shares of the company’s stock valued at $5,805,000 after purchasing an additional 6,569 shares during the period. Amundi lifted its holdings in shares of Freedom by 9.8% in the 1st quarter. Amundi now owns 15,769 shares of the company’s stock valued at $2,285,000 after buying an additional 1,408 shares during the period. Royal Bank of Canada raised its position in Freedom by 67.2% in the first quarter. Royal Bank of Canada now owns 587 shares of the company’s stock worth $85,000 after acquiring an additional 236 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Freedom during the 1st quarter worth $232,000. 1.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FRHC. Loop Capital set a $138.00 price objective on Freedom in a research report on Thursday, February 26th. Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, KeyCorp reiterated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Freedom presently has an average rating of “Hold” and an average price target of $138.00.

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.