Freedom (NASDAQ:FRHC) Reaches New 52-Week High – Should You Buy?

Freedom Holding Corp. (NASDAQ:FRHC) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $178.00 and last traded at $177.3420, with a volume of 44,833 shares trading hands. The stock had previously closed at $176.14.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FRHC shares. Wedbush set a $180.00 price target on Freedom in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Freedom from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, HC Wainwright restated a “buy” rating on shares of Freedom in a 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 stock. According to data from MarketBeat, Freedom presently has an average rating of “Hold” and an average price target of $159.00.

Freedom Stock Performance

The firm has a market capitalization of $11.46 billion, a PE ratio of 71.00 and a beta of 0.69. 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 business’s fifty day simple moving average is $165.43 and its 200-day simple moving average is $154.43.

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

Insider Transactions at Freedom

In other Freedom news, CFO Valeriy Kim sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $169.31, for a total transaction of $846,550.00. Following the transaction, the chief financial officer directly owned 47,400 shares in the company, valued at $8,025,294. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 69.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freedom

Hedge funds have recently made changes to their positions in the stock. Wedmont Private Capital raised 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 purchasing an additional 156 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Freedom by 28.5% in the third quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock worth $71,000 after acquiring an additional 94 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Freedom in the 2nd quarter valued at approximately $395,000. Nykredit A S acquired a new position in Freedom during the 2nd quarter valued at approximately $118,000. Finally, Odyssean LLC lifted its stake in shares of Freedom by 87.7% during the second quarter. Odyssean LLC now owns 21,511 shares of the company’s stock worth $2,807,000 after buying an additional 10,052 shares during the period. 1.26% of the stock is currently owned by hedge funds and other institutional investors.

About Freedom

Freedom Holding Corp. is a financial services company that provides brokerage, banking, investment banking, insurance and asset management services. Through its subsidiaries and affiliated businesses, the company serves retail and institutional clients seeking access to securities markets and related financial products.

The company operates the Freedom24 investment platform, which provides customers with access to stocks, exchange-traded funds, bonds, options and other securities, subject to the regulations of the relevant markets.