Man Group plc Boosts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Man Group plc grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 443.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 540,211 shares of the company's stock after purchasing an additional 440,720 shares during the quarter. Man Group plc's holdings in Grab were worth $2,550,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ellevest Inc. boosted its stake in shares of Grab by 3.3% during the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company's stock valued at $391,000 after purchasing an additional 2,636 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Grab by 19.1% during the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock valued at $103,000 after acquiring an additional 3,500 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Grab by 40.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,710 shares of the company's stock valued at $69,000 after acquiring an additional 4,250 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Grab by 1.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 351,346 shares of the company's stock worth $1,658,000 after purchasing an additional 4,412 shares in the last quarter. Finally, Vestcor Inc lifted its position in Grab by 16.6% during the fourth quarter. Vestcor Inc now owns 33,602 shares of the company's stock valued at $159,000 after buying an additional 4,776 shares during the period. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Performance

Shares of Grab stock traded up $0.02 during trading hours on Tuesday, reaching $4.97. 18,116,614 shares of the stock traded hands, compared to its average volume of 30,612,379. The company has a 50 day moving average price of $4.55 and a 200 day moving average price of $4.73. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of -248.25, a P/E/G ratio of 2.26 and a beta of 0.86. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on GRAB shares. Benchmark reissued a "buy" rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Citigroup reissued a "buy" rating on shares of Grab in a research report on Tuesday, February 4th. Barclays raised their price objective on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, February 20th. CLSA raised Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grab has a consensus rating of "Moderate Buy" and a consensus target price of $5.71.

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.