Ramirez Asset Management Inc. Buys 299,732 Shares of Grab Holdings Limited $GRAB

Ramirez Asset Management Inc. lifted its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 99.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 602,415 shares of the company's stock after acquiring an additional 299,732 shares during the period. Ramirez Asset Management Inc.'s holdings in Grab were worth $3,030,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Amundi raised its stake in shares of Grab by 102.3% in the 1st quarter. Amundi now owns 3,349,450 shares of the company's stock valued at $14,269,000 after acquiring an additional 1,693,598 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Grab by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,261,794 shares of the company's stock valued at $78,196,000 after acquiring an additional 2,679,277 shares in the last quarter. SCS Capital Management LLC bought a new position in shares of Grab in the 1st quarter valued at approximately $1,197,000. Exchange Traded Concepts LLC raised its stake in shares of Grab by 559.1% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,773,947 shares of the company's stock valued at $8,923,000 after acquiring an additional 1,504,799 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Grab by 354.4% in the 1st quarter. Voya Investment Management LLC now owns 1,889,769 shares of the company's stock valued at $8,561,000 after acquiring an additional 1,473,925 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GRAB has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Grab in a research note on Wednesday. HSBC reaffirmed a "hold" rating and issued a $6.20 target price on shares of Grab in a report on Wednesday, September 17th. Finally, Hsbc Global Res lowered Grab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.90.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $6.17 on Friday. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The firm has a market capitalization of $24.85 billion, a PE ratio of 154.29 and a beta of 0.88. The business's 50 day moving average is $5.50 and its 200-day moving average is $5.01. The company has a current ratio of 1.88, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $809.41 million. Grab has set its FY 2025 guidance at EPS. Sell-side analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current year.

About Grab

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.