Freedom (NASDAQ:FRHC) Sets New 52-Week High – Here’s What Happened

Shares of Freedom Holding Corp. (NASDAQ:FRHC) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $134.67 and last traded at $132.60, with a volume of 17522 shares. The stock had previously closed at $133.25.

Freedom Stock Performance

The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 23.65 and a beta of 1.02. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $121.47 and a 200-day simple moving average of $100.41.

Insider Activity at Freedom

In other news, CEO Robert Wotczak sold 650 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $117.80, for a total value of $76,570.00. Following the sale, the chief executive officer now owns 72,000 shares in the company, valued at approximately $8,481,600. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Azamat Yerdessov sold 7,521 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $116.52, for a total transaction of $876,346.92. Following the transaction, the insider now directly owns 90,817 shares in the company, valued at $10,581,996.84. The trade was a 7.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,271 shares of company stock valued at $1,922,417 over the last ninety days. Corporate insiders own 70.40% of the company’s stock.

Institutional Investors Weigh In On Freedom

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Freedom by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 8,863 shares of the company’s stock valued at $840,000 after purchasing an additional 124 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Freedom by 15.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 3,700 shares of the company’s stock valued at $351,000 after buying an additional 500 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Freedom by 1.5% in the third quarter. Geode Capital Management LLC now owns 53,338 shares of the company’s stock worth $5,054,000 after acquiring an additional 811 shares during the last quarter. Algert Global LLC boosted its stake in Freedom by 44.0% in the second quarter. Algert Global LLC now owns 5,905 shares of the company’s stock valued at $445,000 after acquiring an additional 1,805 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Freedom during the third quarter valued at approximately $206,000. 1.26% of the stock is owned by institutional investors and hedge funds.

About Freedom

Freedom Holding Corp., through its subsidiaries, provides securities brokerage, securities dealing, market making, investment research, investment counseling, and investment banking services. It offers retail 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; securities trading; underwriting services; 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 business and digital auto loans, as well as Freedom Box, a package of payment acquiring services.