KBC Group NV Sells 4,718 Shares of Freedom Holding Corp. $FRHC

KBC Group NV lessened its stake in shares of Freedom Holding Corp. (NASDAQ:FRHC) by 90.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 499 shares of the company’s stock after selling 4,718 shares during the period. KBC Group NV’s holdings in Freedom were worth $72,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Daytona Street Capital LLC bought a new position in Freedom in the 4th quarter worth $2,434,000. UBS Group AG boosted its holdings in Freedom by 139.7% during the fourth quarter. UBS Group AG now owns 27,810 shares of the company’s stock valued at $3,384,000 after acquiring an additional 16,210 shares during the period. Abacus Wealth Partners LLC bought a new stake in Freedom during the fourth quarter valued at about $254,000. State of New Jersey Common Pension Fund D grew its position in shares of Freedom by 29.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 15,707 shares of the company’s stock valued at $1,911,000 after purchasing an additional 3,549 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Freedom by 15.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,845 shares of the company’s stock valued at $346,000 after purchasing an additional 373 shares during the last quarter. Institutional investors own 1.26% of the company’s stock.

Insider Transactions at Freedom

In other Freedom news, CTO Renat Tukanov sold 1,800 shares of the stock in a transaction on Monday, June 22nd. The stock was 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 represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Azamat Yerdessov sold 16,800 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.48, for a total value of $2,612,064.00. Following the transaction, the insider owned 227,442 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 18,957 shares of company stock valued at $2,915,891. Corporate insiders own 70.00% of the company’s stock.

Freedom Trading Up 3.4%

Shares of Freedom stock opened at $156.21 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $147.65 and its two-hundred day moving average price is $139.68. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $194.01. The firm has a market capitalization of $9.57 billion, a PE ratio of 62.24 and a beta of 0.68.

Freedom (NASDAQ:FRHC) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.74). The business had revenue of $486.15 million during the quarter, compared to analyst estimates of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. KeyCorp restated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Freedom in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.00.

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.