Freedom (NASDAQ:FRHC) Issues Quarterly Earnings Results, Misses Expectations By $0.35 EPS

Freedom (NASDAQ:FRHC) released its quarterly earnings results on Monday. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.35), FiscalAI reports. The firm had revenue of $554.96 million for the quarter, compared to analyst estimates of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.

Freedom Trading Up 0.7%

FRHC opened at $150.00 on Tuesday. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 59.76 and a beta of 0.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03. Freedom has a twelve month low of $107.97 and a twelve month high of $182.00. The company has a 50-day simple moving average of $148.94 and a 200 day simple moving average of $141.24.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FRHC. HC Wainwright reiterated a “buy” rating on shares of Freedom in a research report on Monday, July 20th. Wedbush set a $180.00 target price on shares of Freedom in a research report on Thursday. KeyCorp restated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Finally, Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $159.00.

Insider Transactions at Freedom

In other news, Director Andrew Gamble sold 357 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $141.04, for a total transaction of $50,351.28. Following the completion of the transaction, the director owned 677 shares of the company’s stock, valued at approximately $95,484.08. The trade was a 34.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.48, for a total transaction of $2,612,064.00. Following the completion of the sale, the insider owned 227,442 shares in the company, valued at approximately $35,362,682.16. The trade was a 6.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 18,957 shares of company stock valued at $2,915,891. Company insiders own 69.80% of the company’s stock.

Institutional Investors Weigh In On Freedom

Several hedge funds have recently modified their holdings of FRHC. Xponance LLC increased its holdings in Freedom by 4.1% in the 4th quarter. Xponance LLC now owns 2,498 shares of the company’s stock worth $304,000 after purchasing an additional 98 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Freedom by 1.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 8,110 shares of the company’s stock valued at $987,000 after purchasing an additional 98 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Freedom by 290.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake in shares of Freedom by 18.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company’s stock valued at $171,000 after buying an additional 216 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of Freedom by 9.6% in the fourth quarter. Engineers Gate Manager LP now owns 2,948 shares of the company’s stock valued at $359,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 1.26% of the company’s stock.

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.