OVERSEA CHINESE BANKING Corp Ltd Buys 4,302,224 Shares of Grab Holdings Limited $GRAB

Key Points

• OVERSEA CHINESE BANKING Corp Ltd raised its stake in Grab by 66.5%, buying 4,302,224 shares to hold 10,770,976 shares worth about $64.78 million, making Grab ~1.6% of OCBC’s portfolio and its 14th largest position.
• Other institutional investors also increased or initiated positions (e.g., Nordea to 19.89M shares), leaving institutional ownership at 55.52%.
• Analysts maintain a consensus "Moderate Buy" with a $6.58 target (several firms raised targets to $7 and issued Buy/Overweight ratings); Grab trades at a $18.65B market cap and P/E of 115.78 after a recent quarterly EPS miss.

OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 66.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,770,976 shares of the company's stock after buying an additional 4,302,224 shares during the quarter. Grab comprises approximately 1.6% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 14th biggest position. OVERSEA CHINESE BANKING Corp Ltd owned about 0.27% of Grab worth $64,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRAB. Nordea Investment Management AB increased its holdings in shares of Grab by 15.7% during the third quarter. Nordea Investment Management AB now owns 19,886,007 shares of the company's stock worth $120,509,000 after buying an additional 2,695,472 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Grab during the 3rd quarter worth $1,204,000. Exchange Traded Concepts LLC increased its holdings in Grab by 559.1% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,773,947 shares of the company's stock worth $8,923,000 after purchasing an additional 1,504,799 shares in the last quarter. Voya Investment Management LLC raised its position in Grab by 354.4% in the first quarter. Voya Investment Management LLC now owns 1,889,769 shares of the company's stock valued at $8,561,000 after purchasing an additional 1,473,925 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in Grab in the second quarter valued at about $1,215,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GRAB has been the topic of several research reports. Mizuho set a $7.00 price target on Grab in a report on Tuesday, November 4th. Benchmark lifted their target price on shares of Grab from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Tuesday, November 4th. Barclays upped their price target on shares of Grab from $6.50 to $7.00 and gave the company an "overweight" rating in a research report on Tuesday, November 11th. HSBC reaffirmed a "hold" rating and set a $6.20 price target on shares of Grab in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Grab in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.58.

Grab Stock Down 3.3%

Grab stock opened at $4.63 on Thursday. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 115.78 and a beta of 0.90. Grab Holdings Limited has a 52-week low of $3.36 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.83. The firm has a 50 day moving average price of $5.19 and a two-hundred day moving average price of $5.37.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data 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). Grab had a return on equity of 1.91% and a net margin of 3.81%.The firm had revenue of $873.00 million for the quarter, compared to analyst estimates of $870.44 million. Equities analysts predict that Grab Holdings Limited will post 0.05 EPS for the current 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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