GAM Holding AG Buys Shares of 94,090 Grab Holdings Limited $GRAB

GAM Holding AG bought a new stake in Grab Holdings Limited (NASDAQ:GRAB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 94,090 shares of the company’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. J2 Capital Management Inc grew its holdings in Grab by 21.5% in the 2nd quarter. J2 Capital Management Inc now owns 12,189 shares of the company’s stock valued at $61,000 after buying an additional 2,155 shares during the last quarter. Sowell Financial Services LLC grew its holdings in Grab by 18.8% in the 2nd quarter. Sowell Financial Services LLC now owns 13,953 shares of the company’s stock valued at $70,000 after buying an additional 2,206 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Grab by 6.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company’s stock worth $208,000 after acquiring an additional 2,581 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Grab by 51.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock worth $39,000 after acquiring an additional 2,634 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after acquiring an additional 3,090 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GRAB shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. HSBC reiterated a “hold” rating and issued a $6.20 price objective on shares of Grab in a research report on Wednesday, September 17th. Finally, Hsbc Global Res downgraded Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.06.

Grab Price Performance

Grab stock opened at $6.01 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.87. The company has a market capitalization of $24.20 billion, a PE ratio of 150.29 and a beta of 0.88. Grab Holdings Limited has a one year low of $3.36 and a one year high of $6.62. The business has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $5.20.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.41 million. Grab had a return on equity of 1.75% and a net margin of 3.65%. On average, sell-side analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Grab Profile

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.