Quantbot Technologies LP Invests $386,000 in Freedom Holding Corp. $FRHC

Quantbot Technologies LP bought a new stake in shares of Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,957 shares of the company’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FRHC. Caitong International Asset Management Co. Ltd lifted its position in Freedom by 290.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after purchasing an additional 154 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Freedom by 476.2% in the 1st quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Freedom by 111.7% in the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after buying an additional 267 shares during the last quarter. Royal Bank of Canada increased its holdings 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 buying an additional 236 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of Freedom in the 2nd quarter worth about $78,000. 1.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FRHC. HC Wainwright reaffirmed a “buy” rating on shares of Freedom in a report on Monday, July 20th. KeyCorp reissued a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Wedbush set a $180.00 price objective on Freedom in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Freedom has an average rating of “Hold” and a consensus target price of $159.00.

Insiders Place Their Bets

In other Freedom news, Director Andrew Gamble sold 357 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $141.04, for a total value of $50,351.28. Following the transaction, the director owned 677 shares of the company’s stock, valued at $95,484.08. This represents a 34.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Valeriy Kim sold 5,000 shares of the stock in a transaction on 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 owned 47,400 shares in the company, valued at approximately $8,025,294. The trade was a 9.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,957 shares of company stock valued at $3,762,441 over the last quarter. 69.80% of the stock is currently owned by insiders.

Freedom Price Performance

FRHC stock opened at $174.85 on Friday. Freedom Holding Corp. has a 12 month low of $107.97 and a 12 month high of $181.88. 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 company has a 50-day moving average price of $153.39 and a 200 day moving average price of $144.69. The stock has a market cap of $11.15 billion, a PE ratio of 69.11 and a beta of 0.67.

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 firm had revenue of $554.96 million during the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a return on equity of 10.96% and a net margin of 6.47%.

Freedom 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.