Freedom (NASDAQ:FRHC) Shares Down 3.4% - What's Next?

Key Points

• Freedom Holding Corp. (NASDAQ:FRHC) shares fell by 3.4%, trading at $166.31 after hitting a low of $166.06, with a notable volume increase to 105,629 shares.
• The company's recent earnings report showed an EPS of $0.50 and a revenue of $533.42 million for the last quarter, alongside a return on equity of 6.49%.
• Institutional investors have increased their stakes in Freedom, with Bank of America Corp DE boosting its holding by 71.8% to own over 48,000 shares, indicating growing confidence in the stock.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) fell 3.4% during trading on Wednesday . The company traded as low as $166.06 and last traded at $166.31. 105,629 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 101,333 shares. The stock had previously closed at $172.13.

Freedom Stock Down 3.4%

The business has a 50 day simple moving average of $173.21 and a 200 day simple moving average of $155.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $9.91 billion, a PE ratio of 125.99 and a beta of 1.07.

Freedom (NASDAQ:FRHC - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.50 EPS for the quarter. Freedom had a return on equity of 6.49% and a net margin of 3.78%.The firm had revenue of $533.42 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of Freedom during the 2nd quarter worth about $508,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Freedom by 8.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 7,742 shares of the company's stock worth $1,133,000 after acquiring an additional 592 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Freedom by 248.4% during the 2nd quarter. Tidal Investments LLC now owns 6,178 shares of the company's stock worth $902,000 after acquiring an additional 4,405 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Freedom by 94.8% during the 2nd quarter. Engineers Gate Manager LP now owns 12,976 shares of the company's stock worth $1,895,000 after acquiring an additional 6,315 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Freedom by 71.8% during the 2nd quarter. Bank of America Corp DE now owns 48,513 shares of the company's stock worth $7,085,000 after acquiring an additional 20,275 shares in the last quarter. Hedge funds and other institutional investors own 1.26% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.