Freedom Holding Corp. (NASDAQ:FRHC) Sees Large Increase in Short Interest

Freedom Holding Corp. (NASDAQ:FRHCGet Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 406,300 shares, an increase of 8.4% from the February 29th total of 374,700 shares. Based on an average daily volume of 61,900 shares, the days-to-cover ratio is presently 6.6 days. Approximately 2.4% of the company’s stock are short sold.

Insider Buying and Selling

In other news, CTO Renat Tukanov sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $75.43, for a total transaction of $226,290.00. Following the completion of the sale, the chief technology officer now directly owns 9,006 shares of the company’s stock, valued at approximately $679,322.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 71.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in shares of Freedom by 2.9% in the second quarter. Renaissance Technologies LLC now owns 155,319 shares of the company’s stock valued at $12,553,000 after acquiring an additional 4,419 shares during the period. BlackRock Inc. boosted its holdings in Freedom by 5.1% in the 1st quarter. BlackRock Inc. now owns 109,137 shares of the company’s stock valued at $7,843,000 after purchasing an additional 5,313 shares during the period. Vanguard Group Inc. grew its position in shares of Freedom by 30.9% during the 1st quarter. Vanguard Group Inc. now owns 67,728 shares of the company’s stock valued at $4,037,000 after purchasing an additional 15,977 shares in the last quarter. Geode Capital Management LLC increased its stake in Freedom by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 55,310 shares of the company’s stock worth $4,470,000 after acquiring an additional 209 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Freedom by 21.9% in the fourth quarter. Hsbc Holdings PLC now owns 48,357 shares of the company’s stock worth $3,945,000 after purchasing an additional 8,674 shares during the last quarter. Institutional investors own 1.26% of the company’s stock.

Freedom Stock Up 0.1 %

Shares of FRHC stock traded up $0.04 on Wednesday, hitting $68.85. 5,801 shares of the stock were exchanged, compared to its average volume of 58,608. The firm’s 50 day moving average is $76.70 and its two-hundred day moving average is $79.99. Freedom has a one year low of $65.61 and a one year high of $102.40. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.03.

Freedom (NASDAQ:FRHCGet Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $1.63 EPS for the quarter. The business had revenue of $418.63 million for the quarter. Freedom had a net margin of 23.96% and a return on equity of 37.71%.

Freedom Company Profile

(Get Free Report)

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. It offers retail brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital business and digital auto loans, as well as Freedom Box, a package of payment acquiring services.

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