Grab Holdings Limited $GRAB Shares Acquired by Oaktree Capital Management LP

Key Points

• Oaktree Capital Management LP increased its stake in Grab by 4.5% in Q3, buying 525,200 shares to hold 12,094,495 shares (about $72.8M), making Grab its 21st largest position and ~0.6% of its portfolio.
• Other institutions also added exposure—Invesco lifted its stake 24.9% to 79,797,848 shares ($480.4M) and JPMorgan added 20.8%—and institutional investors now own 55.52% of Grab.
• Grab traded around $3.78 with a $15.2B market cap; it reported $0.04 EPS (beat) and $906M revenue (slightly below estimates), and analysts have an average rating of Buy with a $6.47 average price target.

Oaktree Capital Management LP increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,094,495 shares of the company's stock after purchasing an additional 525,200 shares during the period. Grab makes up approximately 0.6% of Oaktree Capital Management LP's portfolio, making the stock its 21st largest position. Oaktree Capital Management LP owned about 0.30% of Grab worth $72,809,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock worth $480,383,000 after purchasing an additional 15,916,063 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Grab by 20.8% in the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company's stock valued at $304,092,000 after buying an additional 10,428,014 shares in the last quarter. State Street Corp boosted its stake in shares of Grab by 1.8% in the second quarter. State Street Corp now owns 43,322,397 shares of the company's stock valued at $217,912,000 after buying an additional 759,696 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Grab by 13.4% during the second quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company's stock worth $200,422,000 after acquiring an additional 4,710,420 shares during the period. Finally, Norges Bank acquired a new position in Grab during the second quarter worth $175,192,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Price Performance

GRAB traded up $0.03 during midday trading on Friday, reaching $3.78. 4,626,982 shares of the company's stock were exchanged, compared to its average volume of 48,954,898. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The stock has a market capitalization of $15.20 billion, a PE ratio of 125.88, a P/E/G ratio of 0.87 and a beta of 0.93. 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 business's 50-day moving average price is $4.39 and its 200 day moving average price is $5.14.

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

Analysts Set New Price Targets

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

Grab Profile

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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