Mitsubishi UFJ Asset Management Co. Ltd. Acquires 316,470 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Grab Holdings by 22%, owning 1,757,006 shares valued at approximately $7.96 million.
• Grab Holdings reported a quarterly revenue of $819 million, slightly exceeding analyst expectations, with earnings per share meeting estimates at $0.01.
• The company's stock has experienced a slight decline of 1.2% and is currently trading at $4.82, with a market capitalization of $19.41 billion.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,757,006 shares of the company's stock after acquiring an additional 316,470 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Grab were worth $7,959,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Grab in the first quarter valued at $165,000. NewEdge Advisors LLC lifted its stake in Grab by 426.9% in the 4th quarter. NewEdge Advisors LLC now owns 79,447 shares of the company's stock worth $375,000 after acquiring an additional 64,370 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Grab by 669.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 92,638 shares of the company's stock worth $420,000 after acquiring an additional 80,602 shares in the last quarter. SG Americas Securities LLC lifted its stake in Grab by 98.9% in the 1st quarter. SG Americas Securities LLC now owns 227,950 shares of the company's stock worth $1,033,000 after acquiring an additional 113,373 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Grab in the 4th quarter worth about $104,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $5.82.

Grab Stock Up 2.6%

Shares of NASDAQ:GRAB traded up $0.13 during midday trading on Wednesday, hitting $5.12. 34,600,110 shares of the stock were exchanged, compared to its average volume of 38,392,984. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.88. Grab Holdings Limited has a 52-week low of $3.08 and a 52-week high of $5.72. The business's fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $4.75. The company has a market capitalization of $20.62 billion, a PE ratio of 128.03 and a beta of 0.84.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. Grab had a return on equity of 1.75% and a net margin of 3.65%. The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.41 million. As a group, research analysts predict that Grab Holdings Limited will post 0.05 earnings per share 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.