Freedom (NASDAQ:FRHC) Stock Price Down 5% - Time to Sell?

Key Points

• Freedom shares fell 5% on Monday to $169.98, with trading volume about 79% below its average.
• Analyst sentiment is broadly neutral: the stock has an average “Hold” rating and a $159 consensus price target, below its recent trading price.
• Freedom reported quarterly EPS of $0.52, missing the $0.87 consensus estimate, despite revenue of $554.96 million versus analysts’ $124.14 million estimate. CFO Valeriy Kim also sold 5,000 shares in August.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) shares were down 5% during trading on Monday. The stock traded as low as $171.89 and last traded at $169.98. Approximately 25,749 shares changed hands during trading, a decline of 79% from the average daily volume of 123,123 shares. The stock had previously closed at $178.85.

Analysts Set New Price Targets

FRHC has been the subject of several research reports. HC Wainwright reiterated a "buy" rating on shares of Freedom in a report on Monday, July 20th. Weiss Ratings raised Freedom from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Finally, Wedbush set a $180.00 price target on Freedom in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $159.00.

Freedom Trading Down 3.6%

The company has a 50 day simple moving average of $172.46 and a two-hundred day simple moving average of $150.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $10.99 billion, a PE ratio of 67.50 and a beta of 0.68.

Freedom (NASDAQ:FRHC - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.52 earnings per share (EPS) 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 firm had revenue of $554.96 million during the quarter, compared to analyst estimates of $124.14 million.

Insider Activity

In other Freedom news, CFO Valeriy Kim sold 5,000 shares of the company'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 in the company, valued at $8,025,294. This represents a 9.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 69.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Freedom in the 2nd quarter valued at $77,900,000. Bank of New York Mellon Corp acquired a new stake in shares of Freedom in the 2nd quarter worth $6,301,000. Bank of America Corp DE boosted its holdings in shares of Freedom by 19.6% in the first quarter. Bank of America Corp DE now owns 40,070 shares of the company's stock valued at $5,805,000 after acquiring an additional 6,569 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of 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 acquired a new position in shares of Freedom during the second quarter worth about $3,106,000. 1.26% of the stock is owned by hedge funds and other institutional investors.

Freedom Company Profile

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