Jupiter Topco LLC Acquires Shares of 8,410 Freedom Holding Corp. $FRHC

Jupiter Topco LLC bought a new stake in Freedom Holding Corp. (NASDAQ:FRHC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,410 shares of the company’s stock, valued at approximately $1,099,000.

Several other large investors have also made changes to their positions in FRHC. Amundi acquired a new position in Freedom in the first quarter valued at about $483,000. Millennium Management LLC raised its stake in shares of Freedom by 648.1% in the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after acquiring an additional 105,641 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 51,159 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Freedom by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,068 shares of the company’s stock worth $4,899,000 after acquiring an additional 3,771 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Freedom by 86.1% during the 1st quarter. Jane Street Group LLC now owns 7,583 shares of the company’s stock worth $1,002,000 after acquiring an additional 3,509 shares during the last quarter. Institutional investors own 1.26% of the company’s stock.

Insider Buying and Selling

In other Freedom news, Director Andrew Gamble sold 357 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $141.04, for a total transaction of $50,351.28. Following 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Renat Tukanov sold 1,800 shares of the firm’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 transaction, the chief technology officer directly owned 10,200 shares in the company, valued at $1,436,364. This trade represents a 15.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,157 shares of company stock worth $1,150,377 over the last three months. 69.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. KeyCorp reissued a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. HC Wainwright reaffirmed a “buy” rating on shares of Freedom in a report on Monday, July 20th. Weiss Ratings downgraded shares of Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. Finally, Wedbush set a $180.00 price objective on shares of Freedom in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.00.

Freedom Stock Up 0.7%

NASDAQ:FRHC opened at $164.54 on Friday. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 65.04 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s fifty day moving average price is $156.77 and its two-hundred day moving average price is $146.40. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $177.15.

Freedom (NASDAQ:FRHC) last released its earnings results 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). Freedom had a return on equity of 10.96% and a net margin of 6.47%.The firm had revenue of $554.96 million for the quarter, compared to the consensus estimate of $124.14 million.

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.