Hsbc Holdings PLC Takes $3.11 Million Position in Freedom Holding Corp. $FRHC

Hsbc Holdings PLC purchased a new position in Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, HoldingsChannel.com reports. The firm purchased 24,249 shares of the company’s stock, valued at approximately $3,106,000.

A number of other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock valued at $25,000 after acquiring an additional 154 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Freedom by 476.2% during the 1st quarter. Parallel Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after purchasing an additional 300 shares during the period. Wells Fargo & Company MN grew its position in Freedom by 111.7% in the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock valued at $62,000 after acquiring an additional 267 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of Freedom during the second quarter valued at approximately $78,000. Finally, Royal Bank of Canada raised its holdings in shares of Freedom by 67.2% in the first quarter. Royal Bank of Canada now owns 587 shares of the company’s stock valued at $85,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 1.26% of the company’s stock.

Freedom Trading Up 2.5%

Shares of FRHC stock opened at $174.85 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 69.11 and a beta of 0.67. The stock has a 50 day simple moving average of $153.39 and a 200-day simple moving average of $144.69. Freedom Holding Corp. has a 1-year low of $107.97 and a 1-year high of $181.88.

Freedom (NASDAQ:FRHC) last released its quarterly earnings results on Monday, August 10th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). The company had revenue of $554.96 million during the quarter, compared to analyst estimates of $124.14 million. Freedom had a net margin of 6.47% and a return on equity of 10.96%.

Insider Activity at Freedom

In other news, CTO Renat Tukanov sold 1,800 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were 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 of the company’s stock, valued at $1,436,364. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Azamat Yerdessov sold 16,800 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was 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 of the company’s stock, valued at approximately $35,362,682.16. This trade represents a 6.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,957 shares of company stock worth $3,762,441 in the last ninety days. 69.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

FRHC has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating on shares of Freedom in a report on Monday, July 20th. KeyCorp restated a “market perform” rating on shares of Freedom in a research report on Friday, June 5th. Finally, Wedbush set a $180.00 target price on shares of Freedom in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Freedom presently has an average rating of “Hold” and an average price target of $159.00.

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.