OVERSEA CHINESE BANKING Corp Ltd Grows Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Grab Holdings by 7% in the first quarter, now holding approximately 8.09 million shares, which constitutes about 1% of its total holdings.
• Grab stock is currently down 1.8% with a price of $4.80, showing a 52-week range of $2.98 to $5.72.
• Analysts have varying opinions on Grab, with two analysts rating it a hold and eight giving it a buy rating, reflecting a consensus rating of "Moderate Buy" and an average target price of $5.82.

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 7.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,093,495 shares of the company's stock after purchasing an additional 530,162 shares during the period. Grab comprises about 1.0% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 24th largest position. OVERSEA CHINESE BANKING Corp Ltd owned 0.20% of Grab worth $36,559,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its position in shares of Grab by 28.3% in the fourth quarter. HighTower Advisors LLC now owns 40,484 shares of the company's stock valued at $191,000 after acquiring an additional 8,938 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Grab during the 1st quarter valued at $165,000. NewEdge Advisors LLC raised its holdings in shares of Grab by 426.9% during the 4th quarter. NewEdge Advisors LLC now owns 79,447 shares of the company's stock valued at $375,000 after buying an additional 64,370 shares during the period. Janney Montgomery Scott LLC increased its stake in Grab by 669.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 92,638 shares of the company's stock worth $420,000 after buying an additional 80,602 shares during the period. Finally, SG Americas Securities LLC grew its stake in Grab by 98.9% during the 1st quarter. SG Americas Securities LLC now owns 227,950 shares of the company's stock valued at $1,033,000 after purchasing an additional 113,373 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price target on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. CLSA raised shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.82.

Grab Stock Up 3.3%

NASDAQ GRAB traded up $0.16 during trading hours on Monday, reaching $4.96. 26,261,987 shares of the company's stock traded hands, compared to its average volume of 41,291,796. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.87. The firm has a 50-day simple moving average of $4.95 and a 200 day simple moving average of $4.73. The firm has a market cap of $19.97 billion, a PE ratio of 124.03 and a beta of 0.84.

Grab (NASDAQ:GRAB - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Grab had a return on equity of 1.75% and a net margin of 3.65%. The firm had revenue of $819.00 million during the quarter, compared to analysts' expectations of $809.41 million. Sell-side analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Grab 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.