Myriad Asset Management US LP Buys Shares of 153,297 Grab Holdings Limited $GRAB

Myriad Asset Management US LP acquired a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 153,297 shares of the company’s stock, valued at approximately $923,000.

Other institutional investors have also modified their holdings of the company. AlphaCore Capital LLC acquired a new position in shares of Grab during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Grab by 51.2% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock valued at $39,000 after acquiring an additional 2,634 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Grab during the 2nd quarter valued at $50,000. Savant Capital LLC acquired a new stake in Grab during the second quarter worth about $51,000. Finally, Orion Porfolio Solutions LLC acquired a new stake in Grab during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on GRAB shares. Wall Street Zen downgraded shares of Grab from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective on the stock in a research note on Friday, January 16th. Barclays increased their price objective on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Mizuho set a $7.00 target price on Grab in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group restated a “buy” rating and set a $7.00 price target on shares of Grab in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.58.

Grab Stock Up 3.4%

GRAB stock opened at $4.55 on Friday. The firm has a market capitalization of $18.32 billion, a P/E ratio of 113.78 and a beta of 0.90. The company’s 50 day simple moving average is $5.03 and its 200-day simple moving average is $5.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81. Grab Holdings Limited has a 52-week low of $3.36 and a 52-week high of $6.62.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Grab had a return on equity of 1.91% and a net margin of 3.81%.The company had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $870.44 million. As a group, equities research analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

About Grab

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.