Cercano Management LLC Sells 2,643,416 Shares of Grab Holdings Limited $GRAB

Key Points

• Cercano Management cut its stake in Grab by 50% in Q2, selling 2,643,416 shares and retaining 2,643,417 shares (about 0.07% of the company) worth roughly $13.3 million.
• Grab reported $0.01 EPS for the most recent quarter, missing consensus of $0.03 while posting $873 million in revenue (slightly above estimates), and analysts forecast about $0.05 EPS for the current fiscal year.
• Analyst sentiment is mixed—five Buys and five Holds—with an average rating of "Moderate Buy" and an average price target of $6.25; the stock trades with a market cap of $21.8 billion and a P/E of about 135.

Cercano Management LLC reduced its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,643,417 shares of the company's stock after selling 2,643,416 shares during the period. Cercano Management LLC owned 0.07% of Grab worth $13,296,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its stake in Grab by 51.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company's stock valued at $39,000 after buying an additional 2,634 shares during the last quarter. Summit Securities Group LLC boosted its holdings in shares of Grab by 63.6% during the first quarter. Summit Securities Group LLC now owns 8,229 shares of the company's stock worth $37,000 after acquiring an additional 3,199 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Grab during the first quarter worth approximately $45,000. Prospera Financial Services Inc acquired a new position in shares of Grab in the second quarter valued at approximately $50,000. Finally, Savant Capital LLC bought a new position in shares of Grab during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Price Performance

GRAB stock opened at $5.41 on Friday. The company's 50-day moving average price is $5.92 and its two-hundred day moving average price is $5.30. The firm has a market cap of $21.79 billion, a P/E ratio of 135.28 and a beta of 0.88. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05. Grab Holdings Limited has a 12 month low of $3.36 and a 12 month high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.81% and a return on equity of 1.91%. The firm had revenue of $873.00 million during the quarter, compared to the consensus estimate of $870.44 million. Grab has set its FY 2025 guidance at EPS. On average, analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRAB. HSBC restated a "hold" rating and issued a $6.20 price target on shares of Grab in a research note on Wednesday, September 17th. Wall Street Zen cut shares of Grab from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Grab in a research note on Wednesday, October 8th. Benchmark lifted their price objective on shares of Grab from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $7.00 price objective on shares of Grab in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $6.25.

Grab Company 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.

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