Altimeter Capital Management LP Buys Shares of 3,502,000 Grab Holdings Limited $GRAB

Key Points

• Altimeter Capital Management bought a new stake of 3,502,000 shares of Grab in Q3 valued at about $1.76 million, equal to roughly 0.09% ownership and the fund's 23rd largest holding.
• Grab beat EPS estimates with $0.04 for the quarter but missed revenue at $906 million; the stock trades near $3.71 with a market cap of $14.94 billion.
• Analyst sentiment is mostly positive with a MarketBeat consensus "Buy" rating and an average price target of $6.47, including recent upgrades from HSBC and Sanford C. Bernstein.

Altimeter Capital Management LP purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,502,000 shares of the company's stock, valued at approximately $1,764,000. Grab accounts for approximately 0.0% of Altimeter Capital Management LP's portfolio, making the stock its 23rd biggest holding. Altimeter Capital Management LP owned about 0.09% of Grab as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of GRAB. AlphaCore Capital LLC bought a new stake in Grab in the 2nd quarter valued at about $33,000. Prospera Financial Services Inc bought a new position in Grab in the 2nd quarter worth about $50,000. Abound Financial LLC acquired a new stake in shares of Grab in the third quarter valued at approximately $60,000. BSW Wealth Partners bought a new stake in shares of Grab during the third quarter valued at approximately $61,000. Finally, Savant Capital LLC bought a new stake in shares of Grab during the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Stock Down 1.1%

Shares of GRAB stock opened at $3.71 on Friday. Grab Holdings Limited has a 1 year low of $3.36 and a 1 year high of $6.62. The stock has a market cap of $14.94 billion, a PE ratio of 123.71, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The business's fifty day moving average is $4.36 and its 200-day moving average is $5.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.75.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Grab had a return on equity of 4.09% and a net margin of 7.92%.The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $942.08 million. Equities analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.

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