JPMorgan Chase & Co. Purchases 49,712 Shares of Freedom Holding Corp. $FRHC

Key Points

• JPMorgan Chase increased its stake in Freedom Holding Corp. by 188.6% in Q3, buying 49,712 shares to hold 76,068 shares worth about $13.09 million (roughly 0.12% of the company).
• Analyst consensus remains a Sell with a consensus price target of $138, though some firms differ—Weiss Ratings reiterated a sell while Wall Street Zen upgraded the stock to a hold and Loop Capital set a $138 target.
• Shares opened around $141.19; the company has a market cap of $8.64 billion, an unusually high reported PE ratio of 7,059.50, and a 52-week range of $107.97–$194.01.

JPMorgan Chase & Co. lifted its holdings in Freedom Holding Corp. (NASDAQ:FRHC - Free Report) by 188.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,068 shares of the company's stock after buying an additional 49,712 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Freedom worth $13,094,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Amalgamated Bank lifted its holdings in Freedom by 5.6% during the third quarter. Amalgamated Bank now owns 1,523 shares of the company's stock worth $262,000 after acquiring an additional 81 shares during the period. Arizona State Retirement System grew its stake in Freedom by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 5,419 shares of the company's stock valued at $933,000 after purchasing an additional 121 shares during the period. Xponance Inc. increased its position in shares of Freedom by 7.0% during the 3rd quarter. Xponance Inc. now owns 2,400 shares of the company's stock valued at $413,000 after purchasing an additional 157 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Freedom by 8.3% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 3,900 shares of the company's stock valued at $671,000 after purchasing an additional 300 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Freedom by 2.5% during the 3rd quarter. Rhumbline Advisers now owns 17,420 shares of the company's stock worth $2,998,000 after purchasing an additional 422 shares during the period. 1.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FRHC shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Freedom in a report on Monday, December 29th. Loop Capital set a $138.00 price objective on shares of Freedom in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Freedom from a "sell" rating to a "hold" rating in a research note on Saturday, January 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Sell" and a consensus price target of $138.00.

Freedom Stock Down 1.4%

Shares of NASDAQ FRHC opened at $141.19 on Friday. The business's fifty day moving average price is $126.84 and its 200-day moving average price is $139.81. Freedom Holding Corp. has a one year low of $107.97 and a one year high of $194.01. The stock has a market capitalization of $8.64 billion, a PE ratio of 7,059.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.15 and a quick ratio of 1.15.

Freedom (NASDAQ:FRHC - Get Free Report) last released its quarterly earnings data on Monday, February 9th. The company reported $1.25 EPS for the quarter. The business had revenue of $500.71 million for the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%.

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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