River Global Investors LLP Decreases Stake in Grab Holdings Limited (NASDAQ:GRAB)

River Global Investors LLP cut its position in Grab Holdings Limited (NASDAQ:GRAB) by 43.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,355 shares of the company’s stock after selling 130,105 shares during the period. River Global Investors LLP’s holdings in Grab were worth $575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates raised its holdings in Grab by 19.6% during the third quarter. Raymond James & Associates now owns 83,774 shares of the company’s stock worth $297,000 after purchasing an additional 13,709 shares in the last quarter. Mackenzie Financial Corp increased its position in Grab by 5.8% during the third quarter. Mackenzie Financial Corp now owns 347,148 shares of the company’s stock worth $1,163,000 after buying an additional 18,940 shares during the period. Advisor Partners II LLC boosted its holdings in shares of Grab by 103.9% in the third quarter. Advisor Partners II LLC now owns 23,896 shares of the company’s stock valued at $85,000 after acquiring an additional 12,175 shares during the period. Sage Rhino Capital LLC purchased a new position in shares of Grab during the third quarter worth approximately $38,000. Finally, Cable Hill Partners LLC purchased a new position in shares of Grab during the third quarter worth approximately $48,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Price Performance

Shares of GRAB traded down $0.01 during trading hours on Monday, reaching $3.52. The company had a trading volume of 7,066,436 shares, compared to its average volume of 23,821,807. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of -35.40 and a beta of 0.81. Grab Holdings Limited has a 12-month low of $2.67 and a 12-month high of $3.92. The firm has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $3.23. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $633.82 million. During the same period last year, the firm earned ($0.10) EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. Research analysts expect that Grab Holdings Limited will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $3.60 to $3.80 in a research report on Thursday, January 18th. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Monday. Barclays dropped their target price on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a report on Monday, February 5th. Finally, HSBC reaffirmed a “buy” rating and set a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and an average price target of $5.10.

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.