GSA Capital Partners LLP Buys New Position in Freedom Holding Corp. $FRHC

GSA Capital Partners LLP bought a new stake in shares of Freedom Holding Corp. (NASDAQ:FRHC) in the second quarter, HoldingsChannel reports. The institutional investor bought 5,228 shares of the company’s stock, valued at approximately $682,000.

Several other institutional investors have also added to or reduced their stakes in FRHC. State Street Corp grew its position in shares of Freedom by 2.3% during the 4th quarter. State Street Corp now owns 213,325 shares of the company’s stock valued at $25,957,000 after acquiring an additional 4,871 shares during the period. First Trust Advisors LP raised its holdings in Freedom by 11.5% in the 4th quarter. First Trust Advisors LP now owns 204,723 shares of the company’s stock worth $24,911,000 after purchasing an additional 21,191 shares during the period. Geode Capital Management LLC raised its holdings in Freedom by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 167,720 shares of the company’s stock worth $20,405,000 after purchasing an additional 950 shares during the period. Millennium Management LLC lifted its position in Freedom by 648.1% during the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after purchasing an additional 105,641 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position 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 purchasing an additional 51,159 shares in the last quarter. 1.26% of the stock is currently owned by institutional investors.

Freedom Stock Down 1.0%

Shares of FRHC stock opened at $159.15 on Thursday. Freedom Holding Corp. has a one year low of $107.97 and a one year high of $181.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 62.91 and a beta of 0.67. The company’s fifty day moving average price is $149.31 and its 200-day moving average price is $142.49.

Freedom (NASDAQ:FRHC) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.52 EPS 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

In related news, CTO Renat Tukanov sold 1,800 shares of Freedom stock in a transaction that occurred 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 sale, the chief technology officer owned 10,200 shares of the company’s stock, valued at approximately $1,436,364. This trade represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Gamble sold 357 shares of Freedom stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $141.04, for a total value of $50,351.28. Following the sale, the director directly owned 677 shares in the company, valued at $95,484.08. This trade represents a 34.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 18,957 shares of company stock worth $2,915,891. 69.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on FRHC shares. HC Wainwright restated a “buy” rating on shares of Freedom in a research report on Monday, July 20th. Wedbush set a $180.00 price objective on Freedom in a research report on Thursday, August 6th. Weiss Ratings raised Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, KeyCorp reiterated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Freedom presently has an average rating of “Hold” and a consensus target price of $159.00.

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.