Freedom (NASDAQ:FRHC) Sets New 12-Month High - Still a Buy?

Key Points

• Freedom Holding reached a new 52-week high, trading at $178 and closing near $177.34, up 2.0%. Its $11.46 billion market capitalization and elevated P/E ratio of 71 indicate a richly valued stock.
• Analyst sentiment remains mixed: one analyst rates Freedom a Buy while two recommend Hold, resulting in a consensus Hold rating and an average price target of $159—below the current share price.
• The company missed quarterly earnings expectations, reporting $0.52 per share versus the $0.87 consensus estimate, despite revenue of $554.96 million. CFO Valeriy Kim also sold 5,000 shares, while institutional ownership remains low at 1.26%.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) hit a new 52-week high on Thursday. The stock traded as high as $178.00 and last traded at $177.3420, with a volume of 44,833 shares changing hands. The stock had previously closed at $176.14.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wedbush set a $180.00 price target on Freedom in a report on Thursday, August 6th. HC Wainwright reaffirmed a "buy" rating on shares of Freedom in a research report on Monday, July 20th. Finally, Weiss Ratings raised Freedom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Freedom presently has a consensus rating of "Hold" and an average price target of $159.00.

Freedom Stock Up 2.0%

The company has a market cap of $11.46 billion, a P/E ratio of 71.00 and a beta of 0.69. The firm's 50 day moving average price is $165.43 and its two-hundred day moving average price is $154.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 1.16.

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

Insider Buying and Selling

In other Freedom news, CFO Valeriy Kim sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $169.31, for a total value of $846,550.00. Following the completion of the sale, the chief financial officer directly owned 47,400 shares of the company's stock, valued at $8,025,294. This trade represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 69.80% of the company's stock.

Institutional Investors Weigh In On Freedom

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Freedom in the second quarter worth $77,900,000. Bank of New York Mellon Corp purchased a new stake in Freedom in the 2nd quarter worth approximately $6,301,000. Bank of America Corp DE purchased a new position in shares of Freedom during the second quarter valued at approximately $5,577,000. Quantinno Capital Management LP boosted its holdings in Freedom by 125.0% in the first quarter. Quantinno Capital Management LP now owns 28,196 shares of the company's stock valued at $4,085,000 after acquiring an additional 15,663 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in Freedom in the second quarter worth about $3,106,000. Institutional investors own 1.26% of the company's stock.

About Freedom

Freedom Holding Corp. is a financial services company that provides brokerage, banking, investment banking, insurance and asset management services. Through its subsidiaries and affiliated businesses, the company serves retail and institutional clients seeking access to securities markets and related financial products.

The company operates the Freedom24 investment platform, which provides customers with access to stocks, exchange-traded funds, bonds, options and other securities, subject to the regulations of the relevant markets.

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