Freedom (NASDAQ:FRHC) Announces Earnings Results, Misses Expectations By $0.35 EPS

Freedom (NASDAQ:FRHC) released its quarterly earnings data on Monday. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35), FiscalAI reports. The firm had revenue of $554.96 million during the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a net margin of 6.47% and a return on equity of 11.30%.

Freedom Stock Up 0.6%

Shares of Freedom stock traded up $0.91 during trading on Wednesday, hitting $151.91. The company’s stock had a trading volume of 39,585 shares, compared to its average volume of 128,599. The company has a market capitalization of $9.31 billion, a PE ratio of 60.04 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day simple moving average of $148.80 and a two-hundred day simple moving average of $141.43. Freedom has a 52 week low of $107.97 and a 52 week high of $182.00.

Wall Street Analysts Forecast Growth

FRHC has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating on shares of Freedom in a report on Monday, July 20th. Wedbush set a $180.00 price objective on Freedom in a research report on Thursday, August 6th. KeyCorp reiterated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Finally, Weiss Ratings raised Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $159.00.

Insider Activity

In related news, CTO Renat Tukanov sold 1,800 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total transaction of $253,476.00. Following the completion of the sale, the chief technology officer owned 10,200 shares in the company, valued at approximately $1,436,364. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Gamble sold 357 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $141.04, for a total value of $50,351.28. Following the completion of the transaction, the director directly owned 677 shares in the company, valued at approximately $95,484.08. This represents a 34.53% 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 valued at $2,915,891 in the last ninety days. 69.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freedom

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Freedom by 4.7% in the fourth quarter. Invesco Ltd. now owns 19,507 shares of the company’s stock worth $2,374,000 after buying an additional 877 shares during the last quarter. Odyssean LLC purchased a new stake in Freedom during the fourth quarter valued at approximately $704,000. Engineers Gate Manager LP raised its position in Freedom by 9.6% in the fourth quarter. Engineers Gate Manager LP now owns 2,948 shares of the company’s stock worth $359,000 after acquiring an additional 257 shares during the period. AQR Capital Management LLC raised its position in Freedom by 170.6% in the fourth quarter. AQR Capital Management LLC now owns 71,883 shares of the company’s stock worth $8,747,000 after acquiring an additional 45,321 shares during the period. Finally, Amundi boosted its stake in shares of Freedom by 560.3% during the 4th quarter. Amundi now owns 14,361 shares of the company’s stock worth $1,747,000 after acquiring an additional 12,186 shares during the last quarter. Hedge funds and other 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.