Insider Selling: Freedom (NASDAQ:FRHC) CTO Sells 1,800 Shares

Freedom Holding Corp. (NASDAQ:FRHC) CTO Renat Tukanov sold 1,800 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $140.82, for a total value of $253,476.00. Following the completion of the sale, the chief technology officer directly owned 10,200 shares in the company, valued at $1,436,364. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Freedom Price Performance

NASDAQ FRHC traded down $3.75 during trading on Wednesday, hitting $135.45. 157,903 shares of the company’s stock were exchanged, compared to its average volume of 125,539. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The company has a market cap of $8.30 billion, a PE ratio of 53.96 and a beta of 0.69. Freedom Holding Corp. has a fifty-two week low of $107.97 and a fifty-two week high of $194.01. The stock’s 50 day moving average price is $146.33 and its two-hundred day moving average price is $136.32.

Freedom (NASDAQ:FRHC) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.74). The company had revenue of $486.15 million during the quarter, compared to analyst estimates of $124.14 million. Freedom had a net margin of 7.00% and a return on equity of 11.50%.

Analysts Set New Price Targets

FRHC has been the topic of a number of research reports. KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Loop Capital set a $138.00 target price on Freedom in a research report on Thursday, February 26th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $138.00.

Hedge Funds Weigh In On Freedom

A number of hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP acquired a new position in shares of Freedom in the third quarter worth approximately $31,591,000. Millennium Management LLC increased its position in Freedom by 648.1% during the 1st quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after purchasing an additional 105,641 shares during the period. Goldman Sachs Group Inc. increased its position in Freedom by 214.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock valued at $9,915,000 after purchasing an additional 51,159 shares during the period. JPMorgan Chase & Co. raised its holdings in Freedom by 188.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after purchasing an additional 49,712 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Freedom by 170.6% during the 4th quarter. AQR Capital Management LLC now owns 71,883 shares of the company’s stock worth $8,747,000 after purchasing an additional 45,321 shares during the last quarter. 1.26% of the stock is currently owned by institutional investors.

Freedom Company Profile

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.