Freedom Holding Corp. (NASDAQ:FRHC – Get Free Report) rose 6.9% during trading on Wednesday . The company traded as high as $157.53 and last traded at $159.2550. 142,516 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 134,362 shares. The stock had previously closed at $148.91.
Analysts Set New Price Targets
Several brokerages have weighed in on FRHC. Weiss Ratings raised Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a report on Friday, June 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.00.
View Our Latest Stock Analysis on FRHC
Freedom Stock Performance
Freedom (NASDAQ:FRHC – Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.74). Freedom had a net margin of 7.00% and a return on equity of 11.50%. The business had revenue of $486.15 million during the quarter, compared to analyst estimates of $124.14 million.
Insider Activity at Freedom
In related news, CTO Renat Tukanov sold 1,800 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total value of $253,476.00. Following the completion of the transaction, the chief technology officer directly owned 10,200 shares in the company, valued at approximately $1,436,364. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew Gamble sold 357 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $141.04, for a total value of $50,351.28. Following the sale, the director directly owned 677 shares of the company’s stock, valued at approximately $95,484.08. This trade represents a 34.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,957 shares of company stock valued at $2,915,891. 70.00% of the stock is currently owned by insiders.
Institutional Trading of Freedom
Hedge funds and other institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC acquired a new position in Freedom in the second quarter valued at about $78,000. Parallel Advisors LLC increased 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 valued at $53,000 after acquiring an additional 300 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Freedom by 19.6% in the 1st quarter. Bank of America Corp DE now owns 40,070 shares of the company’s stock valued at $5,805,000 after acquiring an additional 6,569 shares during the period. Amundi raised its stake 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 acquiring an additional 1,408 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Freedom by 67.2% in the 1st quarter. Royal Bank of Canada now owns 587 shares of the company’s stock worth $85,000 after acquiring an additional 236 shares during the last quarter. 1.26% of the stock is owned by institutional investors and hedge funds.
Freedom Company Profile
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.
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