Algert Global LLC Takes Position in Grab Holdings Limited (NASDAQ:GRAB)

Algert Global LLC bought a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the 2nd quarter, Holdings Channel.com reports. The firm bought 88,550 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRAB. Goldman Sachs Group Inc. lifted its position in shares of Grab by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock valued at $25,774,000 after buying an additional 126,365 shares during the last quarter. Quadrature Capital Ltd raised its stake in Grab by 125.0% in the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after acquiring an additional 590,580 shares during the period. Toronto Dominion Bank lifted its holdings in Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after purchasing an additional 1,555,579 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Grab by 17.8% during the second quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock worth $3,135,000 after purchasing an additional 133,531 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Grab by 30.1% in the second quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company’s stock valued at $13,479,000 after purchasing an additional 878,375 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Mizuho started coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price for the company. Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $4.71.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $3.70 on Wednesday. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.88. The company’s 50 day moving average price is $3.42 and its two-hundred day moving average price is $3.46. The firm has a market cap of $14.52 billion, a PE ratio of -52.86 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Equities research analysts predict that Grab Holdings Limited will post -0.01 earnings per share for the current year.

About Grab

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.