Zacks Investment Research Lowers Freedom (NASDAQ:FRHC) to Hold

Zacks Investment Research downgraded shares of Freedom (NASDAQ:FRHC) from a strong-buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Freedom Holding Corp. is a financial services holding company conducting retail financial brokerage, investment counseling, securities trading, investment banking and underwriting services through its subsidiaries. It operates primarily in Kazakhstan, Russia, Kyrgyzstan, Ukraine and Cyprus. Freedom Holding Corp., formerly knonw as BMB Munai Inc., is headquartered in Almaty, Kazakhstan. “

Shares of NASDAQ:FRHC opened at $66.90 on Tuesday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 11.26 and a beta of 1.09. Freedom has a 12 month low of $42.03 and a 12 month high of $72.43. The firm’s 50-day moving average is $68.48 and its 200 day moving average is $65.61. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.06.

Freedom (NASDAQ:FRHC) last issued its earnings results on Sunday, November 7th. The company reported $3.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $2.53. The business had revenue of $312.82 million for the quarter, compared to the consensus estimate of $139.47 million. Freedom had a net margin of 52.90% and a return on equity of 101.94%. As a group, equities analysts forecast that Freedom will post 6.46 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. grew its stake in Freedom by 22.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 18,094 shares of the company’s stock worth $1,136,000 after acquiring an additional 3,371 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Freedom by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,658 shares of the company’s stock worth $292,000 after acquiring an additional 189 shares in the last quarter. Squarepoint Ops LLC grew its stake in Freedom by 30.8% in the 3rd quarter. Squarepoint Ops LLC now owns 20,143 shares of the company’s stock worth $1,265,000 after acquiring an additional 4,746 shares in the last quarter. UBS Group AG grew its stake in Freedom by 37.8% in the 3rd quarter. UBS Group AG now owns 2,245 shares of the company’s stock worth $141,000 after acquiring an additional 616 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Freedom by 18.0% during the third quarter. Man Group plc now owns 72,401 shares of the company’s stock valued at $4,546,000 after purchasing an additional 11,026 shares in the last quarter. Institutional investors and hedge funds own 2.16% of the company’s stock.

Freedom Company Profile

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, 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; and investment research services.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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