Freedom Holding Corp. (NASDAQ:FRHC – Get Rating) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 366,900 shares, a drop of 9.4% from the August 15th total of 405,000 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 102,200 shares, the short-interest ratio is presently 3.6 days.
Freedom Stock Up 1.6 %
FRHC opened at $55.42 on Monday. Freedom has a fifty-two week low of $38.17 and a fifty-two week high of $72.43. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.81 and a current ratio of 1.81. The company has a fifty day moving average of $54.70 and a two-hundred day moving average of $51.04. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 9.13 and a beta of 1.16.
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Freedom (NASDAQ:FRHC – Get Rating) last announced its earnings results on Wednesday, August 10th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.14. Freedom had a net margin of 50.76% and a return on equity of 38.66%. The business had revenue of $226.61 million for the quarter, compared to analyst estimates of $136.55 million.
Institutional Trading of Freedom
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Freedom by 4.6% during the first quarter. BlackRock Inc. now owns 90,176 shares of the company's stock worth $5,374,000 after acquiring an additional 4,006 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Freedom by 30.9% in 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 during the last quarter. Swiss National Bank boosted its holdings in Freedom by 7.9% in the 1st quarter. Swiss National Bank now owns 42,300 shares of the company's stock valued at $2,521,000 after purchasing an additional 3,100 shares during the last quarter. State Street Corp boosted its holdings in Freedom by 5.2% in the 2nd quarter. State Street Corp now owns 29,764 shares of the company's stock valued at $1,320,000 after purchasing an additional 1,459 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Freedom by 1.9% in the 4th quarter. Northern Trust Corp now owns 25,548 shares of the company's stock valued at $1,771,000 after purchasing an additional 466 shares during the last quarter. Institutional investors and hedge funds own 0.95% of the company's stock.
Analysts Set New Price Targets
Separately, TheStreet raised shares of Freedom from a "c+" rating to a "b-" rating in a report on Thursday, August 25th.
Freedom Company Profile
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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. The company offers investment 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 auto loans, as well as insurance products.
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