Polymer Capital Management HK LTD Sells 1,158,890 Shares of Grab Holdings Limited $GRAB

Polymer Capital Management HK LTD trimmed its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 88.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,974 shares of the company’s stock after selling 1,158,890 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Grab were worth $743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after purchasing an additional 4,601 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after acquiring an additional 2,543 shares in the last quarter. Advocate Investing Services LLC bought a new stake in shares of Grab in the fourth quarter valued at about $35,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Grab by 128.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company’s stock valued at $38,000 after acquiring an additional 4,225 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Grab in the third quarter valued at about $38,000. 55.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $117,600.00. Following the transaction, the insider owned 4,145,430 shares in the company, valued at $16,250,085.60. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of Grab stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the transaction, the insider owned 3,781,306 shares in the company, valued at $13,423,636.30. This trade represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,156,819 shares of company stock worth $4,245,017 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Grab Stock Performance

GRAB stock opened at $3.30 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The business has a 50-day moving average price of $3.66 and a 200 day moving average price of $4.22. The company has a market capitalization of $13.52 billion, a P/E ratio of 330.33, a PEG ratio of 1.52 and a beta of 0.89. Grab Holdings Limited has a 1-year low of $3.18 and a 1-year high of $6.62.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The company had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. As a group, equities research analysts forecast that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GRAB. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Morgan Stanley set a $5.90 price objective on Grab in a report on Wednesday, May 6th. Finally, Mizuho decreased their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.