Hsbc Holdings PLC Sells 5,468 Shares of Freedom Holding Corp. $FRHC

Hsbc Holdings PLC lessened its position in shares of Freedom Holding Corp. (NASDAQ:FRHC) by 17.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,317 shares of the company’s stock after selling 5,468 shares during the period. Hsbc Holdings PLC’s holdings in Freedom were worth $3,094,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Freedom by 188.6% during the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock valued at $13,094,000 after purchasing an additional 49,712 shares during the last quarter. Daytona Street Capital LLC bought a new position in Freedom during the fourth quarter worth about $2,434,000. UBS Group AG increased its stake in shares of Freedom by 139.7% in the fourth quarter. UBS Group AG now owns 27,810 shares of the company’s stock worth $3,384,000 after purchasing an additional 16,210 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in shares of Freedom in the fourth quarter worth about $254,000. Finally, Pictet Asset Management Holding SA raised 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 period. Institutional investors own 1.26% of the company’s stock.

Freedom Stock Up 0.0%

Shares of NASDAQ:FRHC opened at $128.85 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $7.90 billion, a PE ratio of 51.33 and a beta of 0.69. The firm has a fifty day moving average of $144.83 and a 200 day moving average of $136.27. Freedom Holding Corp. has a 52-week low of $107.97 and a 52-week high of $194.01.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. KeyCorp reiterated a “market perform” rating on shares of Freedom in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Freedom currently has a consensus rating of “Hold” and an average target price of $138.00.

Insiders Place Their Bets

In related news, insider Azamat Yerdessov sold 16,800 shares of the business’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 transaction, the insider owned 227,442 shares in the company, valued at $35,362,682.16. The trade was a 6.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Renat Tukanov sold 1,800 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $140.82, for a total transaction of $253,476.00. Following the transaction, the chief technology officer owned 10,200 shares in the company, valued at $1,436,364. This represents a 15.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,957 shares of company stock worth $2,915,891. 70.00% of the stock is currently owned by corporate insiders.

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.