Tremblant Capital Group Trims Stake in Grab Holdings Limited $GRAB

Tremblant Capital Group decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,567,004 shares of the company’s stock after selling 159,835 shares during the quarter. Grab comprises about 5.9% of Tremblant Capital Group’s investment portfolio, making the stock its 2nd largest position. Tremblant Capital Group’s holdings in Grab were worth $57,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Grab by 15.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 13,565 shares of the company’s stock worth $82,000 after buying an additional 1,768 shares during the last quarter. Savant Capital LLC raised its position in shares of Grab by 19.3% during the 3rd quarter. Savant Capital LLC now owns 12,093 shares of the company’s stock valued at $73,000 after buying an additional 1,957 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Grab by 6.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 33,290 shares of the company’s stock valued at $200,000 after acquiring an additional 2,007 shares during the last quarter. Centurion Wealth Management LLC lifted its holdings in shares of Grab by 4.4% in the 3rd quarter. Centurion Wealth Management LLC now owns 48,764 shares of the company’s stock valued at $294,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Pitcairn Co. grew its position in Grab by 11.0% in the second quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock worth $105,000 after acquiring an additional 2,080 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Benchmark restated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 target price for the company in a report on Friday, January 16th. Wall Street Zen raised Grab from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 price objective on shares of Grab in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Grab has an average rating of “Buy” and an average target price of $6.47.

Grab Stock Performance

Grab stock opened at $3.71 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.73. The firm has a market capitalization of $14.94 billion, a P/E ratio of 123.71, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The company’s 50-day moving average is $4.36 and its 200 day moving average is $5.13.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $942.08 million. Grab had a return on equity of 4.09% and a net margin of 7.92%. Research analysts forecast 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.