Cubist Systematic Strategies LLC Buys Shares of 18,766 Freedom Holding Corp. $FRHC

Key Points

• Cubist Systematic Strategies LLC purchased 18,766 shares of Freedom Holding Corp. for approximately $2.48 million, marking its entry into the company in the first quarter.
• Other hedge funds have also increased their stakes in Freedom, with notable investments from Hsbc Holdings PLC, which raised its stake by 16.7%, and California State Teachers Retirement System, increasing its share by 153.6% in the last quarter.
• The company's stock has a market cap of $10.10 billion, a 1-year price range between $89.14 and $194.01, and reported earnings of $0.50 per share in its latest quarter.

Cubist Systematic Strategies LLC bought a new stake in Freedom Holding Corp. (NASDAQ:FRHC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,766 shares of the company's stock, valued at approximately $2,480,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Freedom by 16.7% in the first quarter. Hsbc Holdings PLC now owns 28,391 shares of the company's stock valued at $3,653,000 after buying an additional 4,054 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Freedom by 153.6% during the 4th quarter. California State Teachers Retirement System now owns 16,512 shares of the company's stock worth $2,158,000 after purchasing an additional 10,000 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Freedom during the 1st quarter worth approximately $219,000. KBC Group NV purchased a new position in shares of Freedom during the 1st quarter worth approximately $138,000. Finally, Millennium Management LLC purchased a new position in shares of Freedom during the 4th quarter worth approximately $2,130,000. 1.26% of the stock is owned by hedge funds and other institutional investors.

Freedom Trading Down 1.7%

Shares of FRHC opened at $169.46 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $168.10 and a 200-day simple moving average of $152.45. Freedom Holding Corp. has a 1-year low of $89.14 and a 1-year high of $194.01. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 128.38 and a beta of 1.07.

Freedom (NASDAQ:FRHC - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.50 earnings per share for the quarter. Freedom had a net margin of 3.78% and a return on equity of 6.49%. The business had revenue of $533.42 million during the quarter.

Freedom Profile

Freedom Holding Corp., through its subsidiaries, provides securities brokerage, securities dealing, market making, investment research, investment counseling, and investment banking services. It offers retail brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; securities trading; underwriting services; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital business and digital auto loans, as well as Freedom Box, a package of payment acquiring services.

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