Odyssean LLC Acquires 10,052 Shares of Freedom Holding Corp. $FRHC

Key Points

• Odyssean LLC increased its Freedom Holding stake by 87.7%, purchasing 10,052 additional shares to own 21,511 shares valued at approximately $2.8 million. Other major institutions, including BlackRock and First Trust, also established or expanded positions.
• Freedom reported quarterly EPS of $0.52, missing the $0.87 consensus estimate, while revenue reached $554.96 million versus analysts’ $124.14 million estimate. The stock opened at $164.54, with a market capitalization of about $10.5 billion.
• Analyst sentiment remains cautious: Freedom has an average “Hold” rating and a $159 consensus price target, while insiders have sold 7,157 shares worth roughly $1.15 million over the past 90 days.

Odyssean LLC lifted its holdings in shares of Freedom Holding Corp. (NASDAQ:FRHC - Free Report) by 87.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,511 shares of the company's stock after purchasing an additional 10,052 shares during the quarter. Odyssean LLC's holdings in Freedom were worth $2,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Freedom in the second quarter worth $77,900,000. First Trust Advisors LP bought a new position in Freedom during the third quarter valued at about $31,591,000. Millennium Management LLC raised its holdings in Freedom by 648.1% during the first quarter. Millennium Management LLC now owns 121,942 shares of the company's stock valued at $16,117,000 after buying an additional 105,641 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Freedom by 214.4% in the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company's stock worth $9,915,000 after buying an additional 51,159 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Freedom in the second quarter worth about $6,301,000. Institutional investors own 1.26% of the company's stock.

Freedom Stock Up 0.7%

FRHC stock opened at $164.54 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $177.15. The company has a 50-day moving average of $156.77 and a two-hundred day moving average of $146.40. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 65.04 and a beta of 0.69.

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

Insider Buying and Selling at Freedom

In other news, Director Andrew Gamble sold 357 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 677 shares in the company, valued at $95,484.08. The trade was a 34.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Renat Tukanov sold 1,800 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total transaction of $253,476.00. Following the completion of the sale, the chief technology officer owned 10,200 shares in the company, valued at approximately $1,436,364. The trade was a 15.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,157 shares of company stock valued at $1,150,377 in the last 90 days. 69.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FRHC. Weiss Ratings downgraded Freedom from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Wedbush set a $180.00 price objective on Freedom in a research note on Thursday, August 6th. KeyCorp restated a "market perform" rating on shares of Freedom in a report on Friday, June 5th. Finally, HC Wainwright reiterated 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 data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $159.00.

About Freedom

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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