Freedom (NASDAQ:FRHC) Hits New 52-Week High – Should You Buy?

Freedom Holding Corp. (NASDAQ:FRHC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $131.20 and last traded at $131.20, with a volume of 30447 shares trading hands. The stock had previously closed at $129.24.

Freedom Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $8.01 billion, a PE ratio of 22.79 and a beta of 1.02. The stock’s 50 day simple moving average is $111.01 and its 200 day simple moving average is $93.85.

Insider Activity at Freedom

In related news, insider Kairat Bakibayevich Akhmetov sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $119.80, for a total transaction of $71,880.00. Following the completion of the sale, the insider now owns 139,400 shares of the company’s stock, valued at $16,700,120. This trade represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Wotczak sold 650 shares of Freedom stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $117.80, for a total value of $76,570.00. Following the completion of the sale, the chief executive officer now directly owns 72,000 shares of the company’s stock, valued at approximately $8,481,600. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,271 shares of company stock worth $1,922,417 over the last ninety days. 70.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freedom

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC lifted its position in Freedom by 901.9% during the second quarter. Quest Partners LLC now owns 5,390 shares of the company’s stock valued at $406,000 after purchasing an additional 4,852 shares during the period. Sparta 24 Ltd. purchased a new position in shares of Freedom in the 2nd quarter worth $1,996,000. Marshall Wace LLP bought a new stake in shares of Freedom in the second quarter worth $618,000. Algert Global LLC increased its position in Freedom by 44.0% during 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 last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Freedom by 15.6% in the third quarter. Handelsbanken Fonder AB now owns 3,700 shares of the company’s stock valued at $351,000 after acquiring an additional 500 shares during the period. Institutional investors own 1.26% of the company’s stock.

Freedom Company Profile

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.