Man Group plc Increases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Man Group plc lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 443.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,211 shares of the company's stock after purchasing an additional 440,720 shares during the period. Man Group plc's holdings in Grab were worth $2,550,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GRAB. Twin Tree Management LP acquired a new stake in shares of Grab during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new stake in shares of Grab in the 4th quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Grab in the 4th quarter valued at about $30,000. TD Private Client Wealth LLC increased its position in Grab by 7,238.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after buying an additional 7,890 shares in the last quarter. Finally, Allianz SE acquired a new position in Grab during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Barclays upped their price objective on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Thursday, February 20th. CLSA raised shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Citigroup reaffirmed a "buy" rating on shares of Grab in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their target price on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $5.71.

Grab Price Performance

Shares of NASDAQ:GRAB traded down $0.01 during trading on Wednesday, reaching $4.97. The company had a trading volume of 5,811,069 shares, compared to its average volume of 30,544,667. The company has a fifty day moving average of $4.56 and a two-hundred day moving average of $4.74. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $19.99 billion, a P/E ratio of -248.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. Equities research analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current 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.