Freedom (NASDAQ:FRHC) Shares Down 6.5% – What’s Next?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) were down 6.5% during trading on Monday . The stock traded as low as $156.30 and last traded at $155.27. 72,553 shares traded hands during trading, a decline of 45% from the average session volume of 132,433 shares. The stock had previously closed at $166.09.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. KeyCorp restated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Freedom presently has an average rating of “Hold” and an average target price of $138.00.

Freedom Trading Down 7.4%

The firm has a market capitalization of $9.13 billion, a P/E ratio of 59.33 and a beta of 0.68. The business’s 50-day moving average is $145.13 and its 200 day moving average is $137.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insider Activity

In other news, CTO Renat Tukanov sold 1,800 shares of Freedom stock in a transaction that occurred on 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 approximately $1,436,364. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Gamble sold 357 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $141.04, for a total value of $50,351.28. Following the sale, the director directly owned 677 shares in the company, valued at $95,484.08. This represents a 34.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 18,957 shares of company stock worth $2,915,891. Corporate insiders own 70.00% of the company’s stock.

Institutional Trading of Freedom

A number of institutional investors have recently modified their holdings of the stock. CoreCap Advisors LLC acquired a new stake in shares of Freedom during the 2nd quarter worth $78,000. Parallel Advisors LLC increased its position in shares of Freedom by 476.2% in the first quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after purchasing an additional 300 shares during the period. Bank of America Corp DE increased its position 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 worth $5,805,000 after purchasing an additional 6,569 shares during the period. Amundi grew its stake in Freedom by 9.8% during the first quarter. Amundi now owns 15,769 shares of the company’s stock worth $2,285,000 after buying an additional 1,408 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Freedom by 67.2% during the first quarter. Royal Bank of Canada now owns 587 shares of the company’s stock worth $85,000 after buying an additional 236 shares in 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.