Hsbc Holdings PLC Lowers Position in Freedom Holding Corp. $FRHC

Hsbc Holdings PLC lessened its position in Freedom Holding Corp. (NASDAQ:FRHC) by 17.8% in the fourth quarter, HoldingsChannel reports. The firm owned 25,317 shares of the company’s stock after selling 5,468 shares during the quarter. Hsbc Holdings PLC’s holdings in Freedom were worth $3,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in Freedom by 290.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Freedom by 111.7% during the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock valued at $62,000 after buying an additional 267 shares in the last quarter. Barclays PLC boosted its holdings in shares of Freedom by 600.8% during the 4th quarter. Barclays PLC now owns 904 shares of the company’s stock valued at $110,000 after buying an additional 775 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in shares of Freedom by 18.2% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,406 shares of the company’s stock worth $171,000 after buying an additional 216 shares during the period. Finally, Creative Planning purchased a new stake in shares of Freedom in the 3rd quarter worth about $224,000. 1.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Freedom news, insider Azamat Yerdessov sold 16,800 shares of the firm’s stock in a transaction dated 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 directly owned 227,442 shares in the company, valued at approximately $35,362,682.16. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Gamble sold 357 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $141.04, for a total transaction of $50,351.28. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 18,957 shares of company stock worth $2,915,891 in the last quarter. Corporate insiders own 70.00% of the company’s stock.

Freedom Stock Up 0.0%

Shares of NASDAQ:FRHC opened at $128.85 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $144.83 and a two-hundred day simple moving average of $136.27. Freedom Holding Corp. has a 12-month low of $107.97 and a 12-month high of $194.01. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 51.33 and a beta of 0.69.

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

Analyst Upgrades and Downgrades

FRHC has been the subject of a number of recent research reports. Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. KeyCorp restated a “market perform” rating on shares of Freedom in a report on Friday, June 5th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Freedom currently has a consensus rating of “Hold” and a consensus price target 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.