Freedom (NASDAQ:FRHC) Reaches New 1-Year High – Still a Buy?

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings lowered Freedom from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Wedbush set a $180.00 price target on Freedom in a report on Thursday, August 6th. KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Finally, HC Wainwright reissued a “buy” rating on shares of Freedom in a report on Monday, July 20th. 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 stock presently has an average rating of “Hold” and an average target price of $159.00.

Freedom Stock Up 1.5%

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 stock has a 50 day simple moving average of $159.17 and a 200 day simple moving average of $150.18. The firm has a market capitalization of $11.27 billion, a PE ratio of 69.91 and a beta of 0.69.

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

Insider Buying and Selling at Freedom

In other news, CFO Valeriy Kim sold 5,000 shares of the company’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 transaction of $846,550.00. Following the completion of the sale, the chief financial officer owned 47,400 shares in the company, valued at $8,025,294. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 69.80% of the company’s stock.

Institutional Investors Weigh In On Freedom

Several institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in shares of Freedom in the 2nd quarter worth $395,000. Nykredit A S bought a new position in Freedom during the second quarter worth about $118,000. Wedmont Private Capital acquired a new position in Freedom in the second quarter valued at about $210,000. Odyssean LLC raised its stake in shares of Freedom by 87.7% during the 2nd quarter. Odyssean LLC now owns 21,511 shares of the company’s stock worth $2,807,000 after purchasing an additional 10,052 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Freedom in the 2nd quarter valued at $318,000. Institutional investors and hedge funds own 1.26% of the company’s stock.

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.