Bank of America Corp DE Purchases 6,569 Shares of Freedom Holding Corp. $FRHC

Bank of America Corp DE grew its position in Freedom Holding Corp. (NASDAQ:FRHC - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,070 shares of the company's stock after purchasing an additional 6,569 shares during the period. Bank of America Corp DE owned about 0.07% of Freedom worth $5,805,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Amundi grew its position in Freedom by 9.8% in the 1st quarter. Amundi now owns 15,769 shares of the company's stock worth $2,285,000 after purchasing an additional 1,408 shares in the last quarter. Royal Bank of Canada boosted its stake 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 buying an additional 236 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Freedom in the 1st quarter worth approximately $232,000. Quantinno Capital Management LP grew its holdings in shares of Freedom by 125.0% in the first quarter. Quantinno Capital Management LP now owns 28,196 shares of the company's stock valued at $4,085,000 after acquiring an additional 15,663 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Freedom by 476.2% in 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 in the last quarter. 1.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FRHC has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating on shares of Freedom in a report on Monday, July 20th. KeyCorp reaffirmed a "market perform" rating on shares of Freedom in a research report on Friday, June 5th. Weiss Ratings upgraded Freedom from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Finally, Wedbush set a $180.00 price target on shares of Freedom in a research report on Thursday, August 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $159.00.

Freedom Stock Performance

Shares of FRHC opened at $170.35 on Thursday. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $181.88. The stock's 50-day simple moving average is $152.23 and its 200 day simple moving average is $144.14. 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 stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 67.33 and a beta of 0.67.

Freedom (NASDAQ:FRHC - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 10.96% and a net margin of 6.47%.

Insider Transactions at Freedom

In related news, insider Azamat Yerdessov sold 16,800 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.48, for a total value of $2,612,064.00. Following the sale, the insider owned 227,442 shares in the company, valued at approximately $35,362,682.16. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew Gamble sold 357 shares of Freedom stock in a transaction on Monday, June 22nd. The shares were 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 $95,484.08. This represents a 34.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,957 shares of company stock valued at $2,915,891. 69.80% of the stock is currently owned by company insiders.

Freedom 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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