Odyssean LLC Buys 10,052 Shares of Freedom Holding Corp. $FRHC

Odyssean LLC increased its position in shares of Freedom Holding Corp. (NASDAQ:FRHC) by 87.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,511 shares of the company’s stock after buying an additional 10,052 shares during the quarter. Odyssean LLC’s holdings in Freedom were worth $2,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in Freedom by 290.6% in the 4th 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 grew its holdings 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 in the last quarter. Wells Fargo & Company MN increased its position in shares of Freedom by 111.7% during the fourth quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock valued at $62,000 after purchasing an additional 267 shares during the period. Royal Bank of Canada increased its position in shares of Freedom by 67.2% during the first quarter. Royal Bank of Canada now owns 587 shares of the company’s stock valued at $85,000 after purchasing an additional 236 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in shares of Freedom in the second quarter valued at $78,000. 1.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Freedom Trading Up 0.7%

Shares of FRHC opened at $164.54 on Friday. 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 stock has a market cap of $10.50 billion, a PE ratio of 65.04 and a beta of 0.69. Freedom Holding Corp. has a 1 year low of $107.97 and a 1 year high of $177.15. The stock has a 50 day simple moving average of $156.77 and a 200-day simple moving average of $146.40.

Freedom (NASDAQ:FRHC) last announced its quarterly 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 net margin of 6.47% and a return on equity of 10.96%. The company had revenue of $554.96 million during the quarter, compared to the consensus estimate of $124.14 million.

Insider Activity

In related news, Director Andrew Gamble sold 357 shares of Freedom 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 completion of the transaction, the director directly owned 677 shares of the company’s stock, valued at $95,484.08. This trade represents a 34.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Valeriy Kim sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $169.31, for a total transaction of $846,550.00. Following the completion of the transaction, the chief financial officer owned 47,400 shares in the company, valued at approximately $8,025,294. This trade represents a 9.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,157 shares of company stock worth $1,150,377. Corporate insiders own 69.80% of the company’s stock.

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.