Mediolanum International Funds Ltd Boosts Stock Holdings in Grab Holdings Limited $GRAB

Key Points

• Mediolanum International Funds Ltd boosted its Grab Holdings stake by 29.4% in the first quarter, buying 602,374 additional shares and bringing its total to 2,653,055 shares worth about $9.37 million.
• Grab reported mixed quarterly results, with EPS of -$0.01 versus expectations of $0.02, but revenue came in ahead of estimates at $955 million. Analysts now expect the company to earn about $0.10 per share for the full fiscal year.
• Insider selling and analyst sentiment were notable: the COO and CFO both sold shares, while analysts currently rate the stock a Moderate Buy with an average price target of $6.01.

Mediolanum International Funds Ltd increased its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,653,055 shares of the company's stock after acquiring an additional 602,374 shares during the period. Mediolanum International Funds Ltd owned approximately 0.06% of Grab worth $9,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GRAB. Pitcairn Co. increased its holdings in Grab by 11.0% during the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company's stock worth $105,000 after purchasing an additional 2,080 shares during the period. Adalta Capital Management LLC raised its position in Grab by 2.2% in the 3rd quarter. Adalta Capital Management LLC now owns 100,880 shares of the company's stock valued at $607,000 after purchasing an additional 2,200 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Grab by 7.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company's stock valued at $161,000 after buying an additional 2,300 shares during the period. Soros Fund Management LLC boosted its stake in shares of Grab by 19.7% in the 2nd quarter. Soros Fund Management LLC now owns 14,677 shares of the company's stock valued at $74,000 after buying an additional 2,419 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Grab by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 129,144 shares of the company's stock worth $643,000 after buying an additional 2,469 shares in the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.57 on Monday. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 357.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The business has a 50-day moving average of $3.60 and a two-hundred day moving average of $3.95. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The business had revenue of $955.00 million during the quarter, compared to analysts' expectations of $921.71 million. On average, analysts forecast that Grab Holdings Limited will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Alexander Charles Hungate sold 144,093 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the completion of the transaction, the chief operating officer directly owned 6,254,023 shares of the company's stock, valued at $21,576,379.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.53, for a total transaction of $176,500.00. Following the completion of the transaction, the chief financial officer owned 6,950,165 shares in the company, valued at $24,534,082.45. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,666,093 shares of company stock valued at $6,083,321 over the last 90 days. Insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays cut their target price on shares of Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. China Renaissance upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Weiss Ratings raised shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Finally, Mizuho reduced their price objective on shares of Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Grab has an average rating of "Moderate Buy" and an average price target of $6.01.

Grab Company 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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