Freedom (NASDAQ:FRHC) Posts Quarterly Earnings Results, Misses Expectations By $0.74 EPS

Freedom (NASDAQ:FRHC) posted its quarterly earnings results on Monday. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.74), FiscalAI reports. The company had revenue of $486.15 million during the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a return on equity of 11.96% and a net margin of 7.00%.

Freedom Stock Performance

Shares of FRHC opened at $157.84 on Wednesday. The business’s fifty day simple moving average is $147.38 and its two-hundred day simple moving average is $135.32. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.03. Freedom has a 12 month low of $107.97 and a 12 month high of $194.01. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 62.88 and a beta of 0.69.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FRHC. Weiss Ratings upgraded Freedom from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. Loop Capital set a $138.00 target price on Freedom in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and an average price target of $138.00.

Hedge Funds Weigh In On Freedom

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Freedom by 2.3% in the 4th quarter. State Street Corp now owns 213,325 shares of the company’s stock worth $25,957,000 after buying an additional 4,871 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Freedom by 11.5% in the 4th quarter. First Trust Advisors LP now owns 204,723 shares of the company’s stock worth $24,911,000 after buying an additional 21,191 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Freedom by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 167,720 shares of the company’s stock worth $20,405,000 after buying an additional 950 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Freedom by 648.1% in the 1st quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock worth $16,117,000 after buying an additional 105,641 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Freedom by 214.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock worth $9,915,000 after buying an additional 51,159 shares during the last quarter. 1.26% of the stock is currently owned by hedge funds and other institutional investors.

About Freedom

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.