Freedom (NASDAQ:FRHC) Hits New 52-Week High – Time to Buy?

Freedom Holding Corp. (NASDAQ:FRHC) reached a new 52-week high during mid-day trading on Friday. The company traded as high as $185.64 and last traded at $184.5930, with a volume of 43,939 shares changing hands. The stock had previously closed at $183.67.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wedbush set a $180.00 price objective on shares of Freedom in a research note on Thursday, August 6th. Weiss Ratings raised shares of Freedom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, HC Wainwright restated a “buy” rating on shares of Freedom in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Freedom has an average rating of “Hold” and an average price target of $159.00.

Freedom Stock Down 0.4%

The stock has a market capitalization of $11.66 billion, a P/E ratio of 72.23 and a beta of 0.69. The stock has a fifty day moving average price of $170.46 and a 200 day moving average price of $148.46. 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 issued its quarterly earnings results 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 company had revenue of $554.96 million during the quarter, compared to the consensus estimate of $124.14 million.

Insiders Place Their Bets

In related 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 sale, the chief financial officer directly owned 47,400 shares in the company, valued at approximately $8,025,294. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 69.80% of the stock is currently owned by insiders.

Institutional Trading of Freedom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Freedom during the 2nd quarter valued at $77,900,000. Bank of New York Mellon Corp bought a new stake in Freedom in the 2nd quarter worth approximately $6,301,000. Bank of America Corp DE purchased a new stake in shares of Freedom during the 2nd quarter worth approximately $5,577,000. Hsbc Holdings PLC bought a new position in shares of Freedom during the 2nd quarter valued at approximately $3,106,000. Finally, Odyssean LLC purchased a new stake in shares of Freedom during the 2nd quarter valued at about $2,807,000. 1.26% of the stock is owned by hedge funds and other institutional investors.

Freedom Company Profile

Freedom Holding Corp. (NASDAQ: FRHC) is a financial services company that provides brokerage, banking, insurance and related investment services. Through its subsidiaries, the company offers securities trading, investment banking, research, asset management and other financial products to retail and institutional clients.

The company operates primarily in Central Asia and surrounding markets, with a significant presence in Kazakhstan. Its businesses include Freedom Finance, which provides brokerage and investment services, as well as banking and insurance operations serving individuals and businesses.