Freedom (NASDAQ:FRHC) Sets New 52-Week High - Here's Why

Key Points

• Freedom Holding shares reached a new 52-week high of $185.64, although analysts remain cautious, with an average “Hold” rating and a $159 average price target.
• The company reported quarterly earnings of $0.52 per share, missing the $0.87 consensus estimate by $0.35, despite revenue of $554.96 million exceeding expectations.
• CFO Valeriy Kim sold 5,000 shares for approximately $846,550, while institutional ownership remains low at 1.26%; corporate insiders own 69.80% of the stock.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report)'s stock price hit a new 52-week high on Friday. The stock traded as high as $185.64 and last traded at $184.5930, with a volume of 43,939 shares changing hands. The stock had previously closed at $183.67.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wedbush set a $180.00 price objective on shares of Freedom in a report on Thursday, August 6th. Weiss Ratings raised Freedom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, HC Wainwright reissued a "buy" rating on shares of Freedom in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $159.00.

Freedom Stock Down 0.4%

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average is $170.46 and its 200 day moving average is $148.46. The stock has a market cap of $11.66 billion, a P/E ratio of 72.23 and a beta of 0.69.

Freedom (NASDAQ:FRHC - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.52 earnings per share 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 company had revenue of $554.96 million during the quarter, compared to the consensus estimate of $124.14 million.

Insiders Place Their Bets

In other Freedom news, CFO Valeriy Kim sold 5,000 shares of the business'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 transaction, the chief financial officer owned 47,400 shares of the company's stock, valued at approximately $8,025,294. The trade was a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 69.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wedmont Private Capital grew its holdings in Freedom by 9.7% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the company's stock valued at $295,000 after purchasing an additional 156 shares during the period. GAMMA Investing LLC grew its position in shares of Freedom by 28.5% in the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company's stock valued at $71,000 after purchasing an additional 94 shares during the period. Squarepoint Ops LLC bought a new position in Freedom in the second quarter valued at approximately $395,000. Nykredit A S bought a new stake in Freedom in the 2nd quarter valued at $118,000. Finally, Odyssean LLC boosted its holdings in Freedom by 87.7% during the second quarter. Odyssean LLC now owns 21,511 shares of the company's stock worth $2,807,000 after purchasing an additional 10,052 shares during the last quarter. 1.26% of the stock is owned by institutional investors.

About Freedom

Freedom Holding Corp. NASDAQ: FRHC is a financial services company that provides brokerage, banking, insurance and related investment services. Through its subsidiaries, the company offers securities trading, investment banking, research, asset management and other financial products to retail and institutional clients.

The company operates primarily in Central Asia and surrounding markets, with a significant presence in Kazakhstan. Its businesses include Freedom Finance, which provides brokerage and investment services, as well as banking and insurance operations serving individuals and businesses.

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