Legal & General Group Plc Purchases New Position in Freedom Holding Corp. $FRHC

Key Points

• Legal & General Group acquired 15,600 shares of Freedom Holding worth approximately $2.04 million, while institutional investors collectively own 1.26% of the company.
• Freedom reported quarterly EPS of $0.52, missing the $0.87 consensus estimate, although revenue reached $554.96 million versus expectations of $124.14 million.
• FRHC shares opened at $164.54, above the analyst consensus target of $159; analysts maintain a consensus “Hold” rating, while insiders have sold 7,157 shares worth $1.15 million over the past three months.

Legal & General Group Plc acquired a new position in shares of Freedom Holding Corp. (NASDAQ:FRHC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 15,600 shares of the company's stock, valued at approximately $2,035,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Freedom by 290.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company's stock worth $25,000 after buying an additional 154 shares during the period. Parallel Advisors LLC increased its stake in shares of Freedom by 476.2% during the first quarter. Parallel Advisors LLC now owns 363 shares of the company's stock valued at $53,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Freedom by 111.7% in the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company's stock valued at $62,000 after acquiring an additional 267 shares in the last quarter. Royal Bank of Canada lifted its stake in Freedom by 67.2% in 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 purchased a new stake in Freedom in the second quarter worth about $78,000. 1.26% of the stock is owned by institutional investors.

Freedom Stock Performance

FRHC stock opened at $164.54 on Monday. Freedom Holding Corp. has a one year low of $107.97 and a one year high of $177.15. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 65.04 and a beta of 0.69. 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 firm has a 50-day simple moving average of $156.77 and a two-hundred day simple moving average of $146.61.

Freedom (NASDAQ:FRHC - Get Free Report) last issued its quarterly earnings data 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). Freedom had a return on equity of 10.96% and a net margin of 6.47%.The firm had revenue of $554.96 million during the quarter, compared to analysts' expectations of $124.14 million.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FRHC. Wedbush set a $180.00 target price on shares of Freedom in a report on Thursday, August 6th. KeyCorp reaffirmed a "market perform" rating on shares of Freedom in a research report 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, August 27th. Finally, HC Wainwright reissued a "buy" rating on shares of Freedom in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $159.00.

Insider Transactions at Freedom

In other news, Director Andrew Gamble sold 357 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $141.04, for a total transaction of $50,351.28. Following the transaction, the director directly owned 677 shares of the company's stock, valued at approximately $95,484.08. This represents a 34.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Renat Tukanov sold 1,800 shares of the stock in a transaction 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 owned 10,200 shares of the company's stock, valued at approximately $1,436,364. This represents a 15.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 7,157 shares of company stock valued at $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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