Freedom (NASDAQ:FRHC) Sets New 1-Year High - Here's Why

Key Points

• Freedom Holding Corp. (NASDAQ:FRHC) stock reached a new 52-week high at $194.01 during trading, closing at $191.21 with a notable trading volume of 42,944 shares.
• The company reported a quarterly earnings loss of ($2.36) EPS with revenue of $363.72 million and a net margin of 4.13% for the last reported quarter.
• Institutional investors have recently increased their holdings in Freedom, with significant investments from various firms, highlighting growing interest in the company's stock.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $194.01 and last traded at $191.21, with a volume of 42944 shares trading hands. The stock had previously closed at $188.75.

Freedom Trading Down 4.1%

The business's 50-day moving average price is $158.16 and its 200 day moving average price is $148.85. The company has a market cap of $10.45 billion, a P/E ratio of 128.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17.

Freedom (NASDAQ:FRHC - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.50 EPS for the quarter. The company had revenue of $533.42 million during the quarter. Freedom had a net margin of 4.13% and a return on equity of 6.92%.

Hedge Funds Weigh In On Freedom

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in Freedom by 153.6% during the 4th quarter. California State Teachers Retirement System now owns 16,512 shares of the company's stock worth $2,158,000 after purchasing an additional 10,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Freedom by 286.0% during the 4th quarter. JPMorgan Chase & Co. now owns 34,213 shares of the company's stock worth $4,471,000 after purchasing an additional 25,350 shares in the last quarter. Millennium Management LLC acquired a new position in Freedom during the 4th quarter worth approximately $2,130,000. KBC Group NV bought a new stake in Freedom during the 1st quarter worth approximately $138,000. Finally, Teacher Retirement System of Texas bought a new stake in Freedom during the 1st quarter worth approximately $351,000. 1.26% of the stock is currently owned by institutional investors and hedge funds.

Freedom Company Profile

Freedom Holding Corp., through its subsidiaries, provides securities brokerage, securities dealing, market making, investment research, investment counseling, and investment banking services. It offers retail brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; securities trading; underwriting services; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital business and digital auto loans, as well as Freedom Box, a package of payment acquiring services.