Freedom (NASDAQ:FRHC) Sets New 12-Month High – Still a Buy?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $177.50 and last traded at $176.8750, with a volume of 39540 shares. The stock had previously closed at $174.13.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FRHC shares. HC Wainwright reissued a “buy” rating on shares of Freedom in a research report on Monday, July 20th. Weiss Ratings cut shares of Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. Wedbush set a $180.00 target price on Freedom in a research report on Thursday, August 6th. Finally, KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $159.00.

Freedom Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04. The firm has a market cap of $11.02 billion, a P/E ratio of 68.27 and a beta of 0.69. The business has a 50-day moving average of $159.92 and a two-hundred day moving average of $150.76.

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

Insiders Place Their Bets

In other news, CFO Valeriy Kim sold 5,000 shares of Freedom 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 transaction, the chief financial officer directly owned 47,400 shares of the company’s stock, valued at approximately $8,025,294. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 69.80% of the company’s stock.

Institutional Trading of Freedom

Several large investors have recently made changes to their positions in FRHC. BlackRock Inc. acquired a new position in shares of Freedom during the second quarter valued at about $77,900,000. Bank of New York Mellon Corp purchased a new stake in shares of Freedom during the second quarter worth $6,301,000. Bank of America Corp DE purchased a new position in Freedom during the 2nd quarter valued at about $5,577,000. Hsbc Holdings PLC bought a new position in shares of Freedom in the second quarter worth $3,106,000. Finally, Odyssean LLC bought a new position in shares of Freedom in the second quarter worth approximately $2,807,000. 1.26% of the stock is currently owned by institutional investors and hedge funds.

Freedom Company Profile

Freedom Holding Corp. is a financial services company that provides brokerage, banking, investment banking and insurance services through its subsidiaries. The company serves individual and institutional clients with access to securities trading, investment products, research, wealth management and related financial services.

Its brokerage operations offer online and mobile platforms for trading stocks, bonds, exchange-traded funds and other securities. The company also provides investment banking and capital-markets services, including support for corporate financing and securities transactions.