Freedom (NASDAQ:FRHC) Announces Quarterly Earnings Results, Misses Estimates By $0.35 EPS

Freedom (NASDAQ:FRHC) released its earnings results on Monday. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.35), FiscalAI reports. The company had revenue of $554.96 million for the quarter, compared to analysts’ expectations of $124.14 million. Freedom had a net margin of 7.00% and a return on equity of 11.50%.

Freedom Stock Performance

Shares of FRHC opened at $148.98 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. Freedom has a 1 year low of $107.97 and a 1 year high of $187.48. The company has a 50 day simple moving average of $148.95 and a two-hundred day simple moving average of $141.05. The firm has a market cap of $9.13 billion, a P/E ratio of 59.35 and a beta of 0.67.

Insider Transactions at Freedom

In related news, Director Andrew Gamble sold 357 shares of the firm’s stock in a transaction on 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 approximately $95,484.08. This trade represents a 34.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Azamat Yerdessov sold 16,800 shares of Freedom stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $155.48, for a total transaction of $2,612,064.00. Following the completion of the sale, the insider owned 227,442 shares in the company, valued at approximately $35,362,682.16. This represents a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,957 shares of company stock valued at $2,915,891. 69.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi bought a new stake in shares of Freedom in the first quarter worth about $483,000. Millennium Management LLC lifted its position in shares of Freedom by 648.1% in the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock worth $16,117,000 after buying an additional 105,641 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Freedom by 214.4% during the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock valued at $9,915,000 after buying an additional 51,159 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Freedom by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 37,068 shares of the company’s stock valued at $4,899,000 after buying an additional 3,771 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Freedom by 86.1% during the 1st quarter. Jane Street Group LLC now owns 7,583 shares of the company’s stock valued at $1,002,000 after buying an additional 3,509 shares in the last quarter. Institutional investors own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

FRHC has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating on shares of Freedom in a research note on Monday, July 20th. KeyCorp reiterated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Wedbush set a $180.00 target price on shares of Freedom in a research note on Thursday. Finally, Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $159.00.

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.