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

Hsbc Holdings PLC lowered its holdings in Freedom Holding Corp. (NASDAQ:FRHC) by 17.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Freedom by 4.7% during the fourth quarter. Invesco Ltd. now owns 19,507 shares of the company’s stock worth $2,374,000 after buying an additional 877 shares during the last quarter. Odyssean LLC bought a new position in Freedom during the fourth quarter worth $704,000. Engineers Gate Manager LP increased its position in Freedom by 9.6% during the fourth quarter. Engineers Gate Manager LP now owns 2,948 shares of the company’s stock worth $359,000 after acquiring an additional 257 shares during the period. AQR Capital Management LLC increased its position in Freedom by 170.6% during the fourth quarter. AQR Capital Management LLC now owns 71,883 shares of the company’s stock worth $8,747,000 after acquiring an additional 45,321 shares during the period. Finally, Amundi raised its stake in Freedom by 560.3% during the 4th quarter. Amundi now owns 14,361 shares of the company’s stock valued at $1,747,000 after purchasing an additional 12,186 shares during the last quarter. 1.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FRHC has been the subject of a number of research reports. KeyCorp reissued a “market perform” rating on shares of Freedom in a report on Friday, June 5th. Weiss Ratings raised shares of Freedom from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $138.00.

Insider Transactions at Freedom

In related news, CTO Renat Tukanov sold 1,800 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $140.82, for a total value of $253,476.00. Following the sale, the chief technology officer owned 10,200 shares of the company’s stock, valued at $1,436,364. The trade was a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Azamat Yerdessov sold 16,800 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $155.48, for a total value of $2,612,064.00. Following the completion of the sale, the insider owned 227,442 shares in the company, valued at $35,362,682.16. This trade 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 Stock Performance

NASDAQ FRHC opened at $166.09 on Friday. Freedom Holding Corp. has a twelve month low of $107.97 and a twelve month high of $194.01. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.18 billion, a P/E ratio of 66.17 and a beta of 0.68. The company’s 50-day simple moving average is $144.69 and its 200 day simple moving average is $137.57.

Freedom (NASDAQ:FRHC) last announced its quarterly 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). The business had revenue of $486.15 million for the quarter, compared to the consensus estimate of $124.14 million. Freedom had a return on equity of 11.50% and a net margin of 7.00%.

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.