Freedom (NASDAQ:FRHC) Sets New 52-Week High – Still a Buy?

Freedom Holding Corp. (NASDAQ:FRHC) shares reached a new 52-week high on Thursday. The stock traded as high as $178.00 and last traded at $177.3420, with a volume of 44,833 shares traded. The stock had previously closed at $176.14.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FRHC shares. Weiss Ratings raised Freedom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. HC Wainwright reissued a “buy” rating on shares of Freedom in a research report on Monday, July 20th. Finally, Wedbush set a $180.00 price objective on shares of Freedom in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Freedom currently has a consensus rating of “Hold” and a consensus target price of $159.00.

Freedom Price Performance

The company has a market capitalization of $11.58 billion, a P/E ratio of 71.77 and a beta of 0.69. The stock’s fifty day simple moving average is $166.74 and its 200-day simple moving average is $154.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16.

Freedom (NASDAQ:FRHC) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Freedom had a return on equity of 10.96% and a net margin of 6.47%. The business had revenue of $554.96 million during the quarter, compared to the consensus estimate of $124.14 million.

Insider Transactions at Freedom

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

Institutional Investors Weigh In On Freedom

Several hedge funds have recently modified their holdings of the business. Jupiter Topco LLC bought a new position in shares of Freedom during the 2nd quarter worth about $1,099,000. Bank of America Corp DE acquired a new position in shares of Freedom during the second quarter valued at about $5,577,000. Bank of New York Mellon Corp acquired a new position in shares of Freedom during the second quarter valued at about $6,301,000. Quantinno Capital Management LP lifted its stake 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 buying an additional 15,663 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Freedom in the second quarter valued at about $3,106,000. 1.26% of the stock is owned by institutional investors.

Freedom Company Profile

Freedom Holding Corp. is a financial services company that provides brokerage, banking, investment banking, insurance and asset management services. Through its subsidiaries and affiliated businesses, the company serves retail and institutional clients seeking access to securities markets and related financial products.

The company operates the Freedom24 investment platform, which provides customers with access to stocks, exchange-traded funds, bonds, options and other securities, subject to the regulations of the relevant markets.