Freedom Holding Corp. $FRHC Position Trimmed by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Freedom Holding Corp. (NASDAQ:FRHC) by 8.8% during the second quarter, Holdings Channel reports. The firm owned 32,362 shares of the company’s stock after selling 3,126 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Freedom were worth $4,222,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC grew its position in shares of Freedom by 4.0% during the 2nd quarter. Hsbc Holdings PLC now owns 24,249 shares of the company’s stock valued at $3,106,000 after buying an additional 934 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Freedom in the second quarter worth about $671,000. Corient Private Wealth LP acquired a new position in Freedom in the second quarter valued at approximately $746,000. Bank of America Corp DE bought a new position in shares of Freedom during the second quarter valued at approximately $5,577,000. Finally, Odyssean LLC bought a new position in shares of Freedom during the second quarter valued at approximately $2,807,000. 1.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FRHC. Wedbush set a $180.00 price target on Freedom in a report on Thursday, August 6th. KeyCorp restated 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 research report on Monday, July 20th. Finally, Weiss Ratings cut Freedom from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $159.00.

Freedom Price Performance

Shares of NASDAQ:FRHC opened at $162.43 on Thursday. The firm’s 50 day moving average is $158.20 and its two-hundred day moving average is $147.68. Freedom Holding Corp. has a 52 week low of $107.97 and a 52 week high of $177.15. The firm has a market capitalization of $10.36 billion, a P/E ratio of 64.20 and a beta of 0.69. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.04.

Freedom (NASDAQ:FRHC) last released 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 business had revenue of $554.96 million for the quarter, compared to the consensus estimate of $124.14 million.

Insider Buying and Selling at Freedom

In other news, Director Andrew Gamble sold 357 shares of the 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 completion of the transaction, the director owned 677 shares of the company’s stock, valued at approximately $95,484.08. This represents a 34.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Renat Tukanov sold 1,800 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $140.82, for a total value of $253,476.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,157 shares of company stock valued at $1,150,377 in the last quarter. Corporate insiders own 69.80% 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.