Hsbc Holdings PLC Makes New $3.11 Million Investment in Freedom Holding Corp. $FRHC

Key Points

• HSBC Holdings acquired 24,249 shares of Freedom Holding Corp. in the second quarter, valued at approximately $3.11 million. BlackRock also initiated a position worth about $77.9 million, while institutional investors collectively own 1.26% of the stock.
• Analysts give Freedom an average rating of “Hold” with an average price target of $159, below its reported opening price of $174.85; Wedbush set a $180 target.
• Freedom reported quarterly EPS of $0.52, missing the $0.87 consensus estimate, despite revenue of $554.96 million. Insiders sold 23,957 shares worth approximately $3.76 million over the prior 90 days.

Hsbc Holdings PLC acquired a new position in Freedom Holding Corp. (NASDAQ:FRHC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,249 shares of the company's stock, valued at approximately $3,106,000.

A number of other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in Freedom in the 2nd quarter worth $2,035,000. The Manufacturers Life Insurance Company purchased a new stake in Freedom during the second quarter valued at about $208,000. Quantbot Technologies LP bought a new position in shares of Freedom during the second quarter valued at about $386,000. BlackRock Inc. purchased a new position in shares of Freedom in the second quarter worth about $77,900,000. Finally, Deutsche Bank AG bought a new stake in shares of Freedom in the 2nd quarter valued at about $287,000. Hedge funds and other institutional investors own 1.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FRHC shares. Wedbush set a $180.00 target price on Freedom in a report on Thursday, August 6th. KeyCorp reissued a "market perform" rating on shares of Freedom in a research note on Friday, June 5th. Weiss Ratings downgraded shares of Freedom from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, HC Wainwright reiterated a "buy" rating on shares of Freedom in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $159.00.

Freedom Price Performance

FRHC opened at $174.85 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $153.39 and a two-hundred day simple moving average of $144.69. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 69.11 and a beta of 0.67. Freedom Holding Corp. has a 12-month low of $107.97 and a 12-month high of $181.88.

Freedom (NASDAQ:FRHC - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.35). Freedom had a return on equity of 10.96% and a net margin of 6.47%.The business had revenue of $554.96 million for the quarter, compared to the consensus estimate of $124.14 million.

Insider Buying and Selling

In related news, CTO Renat Tukanov sold 1,800 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $140.82, for a total value of $253,476.00. Following the transaction, the chief technology officer owned 10,200 shares in the company, valued at $1,436,364. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Valeriy Kim sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $169.31, for a total transaction of $846,550.00. Following the sale, the chief financial officer owned 47,400 shares in the company, valued at approximately $8,025,294. The trade was a 9.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,957 shares of company stock worth $3,762,441 in the last 90 days. 69.80% of the stock is 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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