Mediolanum International Funds Ltd Buys 964,475 Shares of Grab Holdings Limited $GRAB

Key Points

• Mediolanum International Funds Ltd increased its stake in Grab by 131.5%, buying an additional 964,475 shares to hold 1,697,761 shares worth about $10.37 million at quarter-end.
• Other large institutional moves include a new ~$175.2M position by Norges Bank and JPMorgan raising its stake to ~60.46M shares (~$304.1M); overall, institutions and hedge funds own about 55.52% of the stock.
• Analysts have a consensus rating of Buy with an average price target of $6.47, while the stock trades near $4.30 (down 3.8% on the day), suggesting perceived upside from current levels.

Mediolanum International Funds Ltd boosted its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 131.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,697,761 shares of the company's stock after purchasing an additional 964,475 shares during the period. Mediolanum International Funds Ltd's holdings in Grab were worth $10,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Grab in the second quarter valued at about $175,192,000. JPMorgan Chase & Co. lifted its stake in shares of Grab by 20.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company's stock worth $304,092,000 after purchasing an additional 10,428,014 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Grab by 70.0% in the second quarter. William Blair Investment Management LLC now owns 21,150,368 shares of the company's stock worth $106,386,000 after buying an additional 8,707,738 shares during the last quarter. Invesco Ltd. grew its position in Grab by 11.8% during the second quarter. Invesco Ltd. now owns 63,881,785 shares of the company's stock valued at $321,325,000 after buying an additional 6,767,182 shares during the period. Finally, HRT Financial LP increased its holdings in Grab by 533.2% during the second quarter. HRT Financial LP now owns 7,493,486 shares of the company's stock valued at $37,692,000 after buying an additional 6,310,006 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GRAB. Sanford C. Bernstein reissued an "outperform" rating and set a $5.80 price objective on shares of Grab in a research report on Monday, January 26th. Mizuho set a $7.00 price target on Grab in a research report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Grab in a research note on Tuesday, November 4th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Grab in a research note on Thursday, January 22nd. Finally, Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $6.47.

Grab Trading Down 3.8%

Grab stock opened at $4.30 on Monday. Grab Holdings Limited has a 1 year low of $3.36 and a 1 year high of $6.62. The firm's 50 day moving average price is $4.95 and its 200-day moving average price is $5.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81. The stock has a market cap of $17.32 billion, a P/E ratio of 107.53 and a beta of 0.92.

Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $873.00 million for the quarter, compared to analysts' expectations of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. On average, equities analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

About Grab

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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