Freedom (NASDAQ:FRHC) Share Price Breaks Below 50 Day Moving Average - Here's Why

Key Points

• Freedom shares fell below their 50-day moving average: The stock traded as low as $165.47, below its $172.27 average, on volume of 95,472 shares.
• Analyst sentiment is generally neutral: MarketBeat reports an average rating of “Hold” and a consensus price target of $159; one analyst rates the stock Buy and two rate it Hold.
• Quarterly earnings missed expectations: Freedom reported earnings per share of $0.52 versus the $0.87 consensus estimate, although revenue of $554.96 million exceeded analysts’ $124.14 million estimate.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $172.27 and traded as low as $165.47. Freedom shares last traded at $165.47, with a volume of 95,472 shares trading hands.

Wall Street Analyst Weigh In

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

Freedom Stock Performance

The business has a 50-day moving average price of $172.27 and a 200-day moving average price of $150.60. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 65.40 and a beta of 0.68.

Freedom (NASDAQ:FRHC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.96% and a net margin of 6.47%. The business had revenue of $554.96 million during the quarter, compared to analyst estimates of $124.14 million.

Insider Buying and Selling

In other Freedom news, CFO Valeriy Kim sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 69.80% of the company's stock.

Institutional Investors Weigh In On Freedom

A number of large investors have recently modified their holdings of FRHC. New York Life Investment Management LLC acquired a new position in shares of Freedom during the third quarter valued at about $429,000. Commonwealth Equity Services LLC purchased a new position in shares of Freedom in the 3rd quarter valued at approximately $231,000. Covestor Ltd boosted its stake in Freedom by 662.2% in the 3rd quarter. Covestor Ltd now owns 564 shares of the company's stock worth $94,000 after purchasing an additional 490 shares in the last quarter. Wedmont Private Capital boosted its stake in Freedom by 9.7% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the company's stock worth $295,000 after purchasing an additional 156 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Freedom by 28.5% in the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company's stock worth $71,000 after purchasing an additional 94 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. is a financial services and technology company that provides securities brokerage, investment banking, market research and related services. Through its subsidiaries, it also offers retail banking, insurance and digital financial products. The company serves customers in Kazakhstan and other markets in Central Asia and Europe, as well as clients through its international brokerage operations. In Kazakhstan, Freedom has been developing a digital ecosystem that brings together financial services with offerings such as travel and entertainment.

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