Moore Capital Management LP Boosts Stake in Grab Holdings Limited $GRAB

Key Points

• Moore Capital Management increased its Grab stake by 239.3% in the fourth quarter, ending with 2.43 million shares valued at about $12.1 million.
• Institutional interest remains significant, with hedge funds and other investors owning 55.52% of Grab’s stock, while several smaller funds also added positions recently.
• Analysts are moderately bullish overall: the stock has an average “Moderate Buy” rating and a consensus price target of $6.19, even as the company recently missed EPS estimates while posting stronger-than-expected revenue.

Moore Capital Management LP grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 239.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,432,113 shares of the company's stock after acquiring an additional 1,715,352 shares during the period. Moore Capital Management LP owned about 0.06% of Grab worth $12,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock worth $30,000 after acquiring an additional 4,601 shares during the period. Signaturefd LLC grew its holdings in shares of Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company's stock worth $32,000 after acquiring an additional 2,543 shares during the period. Advocate Investing Services LLC purchased a new position in shares of Grab during the 4th quarter worth approximately $35,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Grab by 128.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company's stock worth $38,000 after acquiring an additional 4,225 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Grab during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research analyst reports. Mizuho reduced their target price on Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. Zacks Research raised Grab from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. dropped their price target on Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a research report on Tuesday, May 5th. China Renaissance raised Grab from a "hold" rating to a "buy" rating and set a $5.00 price target on the stock in a research report on Wednesday, May 6th. Finally, Morgan Stanley set a $5.90 price target on Grab in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Grab presently has an average rating of "Moderate Buy" and an average target price of $6.19.

Grab Stock Performance

GRAB stock opened at $3.45 on Thursday. The stock has a market capitalization of $14.14 billion, a PE ratio of 345.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock's 50 day simple moving average is $3.65 and its 200 day simple moving average is $4.17.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. As a group, research analysts forecast that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Grab

In related news, CFO Peter Henry Oey sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $196,000.00. Following the transaction, the chief financial officer directly owned 7,050,165 shares of the company's stock, valued at approximately $27,636,646.80. This represents a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the transaction, the chief executive officer directly owned 25,193 shares in the company, valued at $92,458.31. This trade represents a 94.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,636,819 shares of company stock valued at $5,931,417. 3.60% of the stock is owned by corporate insiders.

Grab 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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