Jupiter Topco LLC Buys New Position in Freedom Holding Corp. $FRHC

Key Points

• Jupiter Topco LLC acquired 8,410 shares of Freedom Holding Corp. in the second quarter, valued at approximately $1.1 million. Institutional investors own 1.26% of the company.
• Freedom reported quarterly earnings of $0.52 per share, missing the $0.87 analyst consensus, while revenue reached $554.96 million. The stock opened at $164.54, near its $159 consensus price target.
• Analyst sentiment remains mixed, with a consensus “Hold” rating; insiders have sold 7,157 shares worth about $1.15 million over the past three months.

Jupiter Topco LLC bought a new stake in Freedom Holding Corp. (NASDAQ:FRHC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,410 shares of the company's stock, valued at approximately $1,099,000.

Several other institutional investors also recently added to or reduced their stakes in FRHC. Caitong International Asset Management Co. Ltd boosted its position in shares of Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company's stock valued at $25,000 after acquiring an additional 154 shares during the period. Parallel Advisors LLC grew its stake in shares of Freedom by 476.2% in the first quarter. Parallel Advisors LLC now owns 363 shares of the company's stock worth $53,000 after acquiring an additional 300 shares during the last quarter. Wells Fargo & Company MN increased its position in Freedom by 111.7% during the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company's stock worth $62,000 after acquiring an additional 267 shares during the period. Royal Bank of Canada increased its position in Freedom by 67.2% during the first 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 period. Finally, CoreCap Advisors LLC bought a new position in Freedom during the second quarter worth $78,000. 1.26% of the stock is owned by institutional investors.

Freedom Stock Performance

FRHC opened at $164.54 on Friday. The stock's 50 day simple moving average is $156.77 and its 200-day simple moving average is $146.40. 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 market cap of $10.50 billion, a PE ratio of 65.04 and a beta of 0.69. Freedom Holding Corp. has a 1 year low of $107.97 and a 1 year high of $177.15.

Freedom (NASDAQ:FRHC - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $124.14 million.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of Freedom from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. HC Wainwright restated 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. Finally, Wedbush set a $180.00 price objective on shares of Freedom in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $159.00.

Insider Activity

In related news, Director Andrew Gamble sold 357 shares of the company's stock in a transaction dated 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 owned 677 shares of the company's stock, valued at $95,484.08. The trade was a 34.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Renat Tukanov sold 1,800 shares of Freedom stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $140.82, for a total value of $253,476.00. Following the sale, the chief technology officer directly owned 10,200 shares in the company, valued at $1,436,364. The trade was a 15.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,157 shares of company stock worth $1,150,377. Corporate insiders own 69.80% of the company's stock.

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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