Freedom (NASDAQ:FRHC) Director Boris Cherdabayev Sells 186 Shares

Key Points

• Director Boris Cherdabayev sold 186 Freedom shares for approximately $23,384, reducing his direct ownership by 60.59% to 121 shares.
• FRHC shares traded at $155.95, with a market capitalization of $9.56 billion and a price-to-earnings ratio of 62.13. The stock remains above its 50-day and 200-day moving averages but below its 52-week high of $194.01.
• Analysts maintain a generally cautious outlook, with one Buy and two Hold ratings and an average price target of $138.00; the company also recently missed quarterly EPS estimates despite reporting $486.15 million in revenue.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) Director Boris Cherdabayev sold 186 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $125.72, for a total value of $23,383.92. Following the completion of the sale, the director directly owned 121 shares of the company's stock, valued at $15,212.12. The trade was a 60.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Freedom Stock Performance

Shares of FRHC traded down $0.26 during mid-day trading on Tuesday, reaching $155.95. 56,549 shares of the company's stock were exchanged, compared to its average volume of 132,807. The business's fifty day simple moving average is $147.65 and its 200-day simple moving average is $139.68. The stock has a market capitalization of $9.56 billion, a PE ratio of 62.13 and a beta of 0.68. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $194.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03.

Freedom (NASDAQ:FRHC - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.74). The business had revenue of $486.15 million during the quarter, compared to analysts' expectations of $124.14 million. Freedom had a net margin of 7.00% and a return on equity of 11.50%.

Hedge Funds Weigh In On Freedom

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRHC. First Trust Advisors LP acquired a new stake in shares of Freedom in the 3rd quarter valued at approximately $31,591,000. Millennium Management LLC boosted its position in shares of Freedom by 648.1% during the 1st quarter. Millennium Management LLC now owns 121,942 shares of the company's stock worth $16,117,000 after purchasing an additional 105,641 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Freedom by 214.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company's stock valued at $9,915,000 after purchasing an additional 51,159 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Freedom by 170.6% in the fourth quarter. AQR Capital Management LLC now owns 71,883 shares of the company's stock valued at $8,747,000 after purchasing an additional 45,321 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Freedom by 71.8% during the second quarter. Bank of America Corp DE now owns 48,513 shares of the company's stock worth $7,085,000 after buying an additional 20,275 shares in the last quarter. Institutional investors and hedge funds own 1.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a "buy" rating on shares of Freedom in a research note on Monday, July 20th. KeyCorp reaffirmed a "market perform" rating on shares of Freedom in a research report on Friday, June 5th. Finally, Weiss Ratings upgraded Freedom from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $138.00.

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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