Freedom (NASDAQ:FRHC) Stock Price Down 6.5% – Here’s What Happened

Shares of Freedom Holding Corp. (NASDAQ:FRHC) traded down 6.5% on Monday . The company traded as low as $156.30 and last traded at $155.27. Approximately 72,553 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 132,433 shares. The stock had previously closed at $166.09.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. KeyCorp reaffirmed a “market perform” rating on shares of Freedom in a report on Friday, June 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.00.

Freedom Trading Down 3.2%

The firm has a market capitalization of $9.85 billion, a P/E ratio of 62.88 and a beta of 0.68. The business’s 50 day moving average is $144.69 and its two-hundred day moving average is $137.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03.

Freedom (NASDAQ:FRHC) last released its earnings results on Tuesday, June 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.74). The company had revenue of $486.15 million for the quarter, compared to analyst estimates of $124.14 million. Freedom had a net margin of 7.00% and a return on equity of 11.50%.

Insider Activity at Freedom

In related news, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.48, for a total transaction of $2,612,064.00. Following the transaction, the insider owned 227,442 shares in the company, valued at $35,362,682.16. This trade represents a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Renat Tukanov sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total value of $253,476.00. Following the sale, the chief technology officer directly owned 10,200 shares in the company, valued at approximately $1,436,364. The trade was a 15.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,957 shares of company stock worth $2,915,891 over the last quarter. 70.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in Freedom during the second quarter worth about $78,000. Parallel Advisors LLC lifted its holdings in Freedom by 476.2% in the 1st quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Freedom by 19.6% during the 1st quarter. Bank of America Corp DE now owns 40,070 shares of the company’s stock valued at $5,805,000 after purchasing an additional 6,569 shares in the last quarter. Amundi boosted its position in shares of Freedom by 9.8% during the 1st quarter. Amundi now owns 15,769 shares of the company’s stock valued at $2,285,000 after purchasing an additional 1,408 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Freedom by 67.2% in the 1st quarter. Royal Bank of Canada now owns 587 shares of the company’s stock worth $85,000 after purchasing an additional 236 shares during the last quarter. Institutional investors own 1.26% of the company’s stock.

Freedom Company Profile

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.