WCM Investment Management LLC Sells 9,991,177 Shares of Grab Holdings Limited (NASDAQ:GRAB)

WCM Investment Management LLC cut its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 91.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 914,418 shares of the company's stock after selling 9,991,177 shares during the period. WCM Investment Management LLC's holdings in Grab were worth $4,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new position in shares of Grab in the 4th quarter worth approximately $25,000. Campbell Capital Management Inc. bought a new stake in Grab in the fourth quarter worth $30,000. Garde Capital Inc. purchased a new position in Grab during the first quarter worth $29,000. TD Private Client Wealth LLC increased its position in Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after acquiring an additional 7,890 shares during the last quarter. Finally, Allianz SE bought a new position in Grab during the fourth quarter valued at $44,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Trading Down 0.6%

GRAB stock opened at $4.90 on Thursday. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The firm's 50-day moving average is $4.86 and its 200 day moving average is $4.68. The company has a market capitalization of $19.73 billion, a PE ratio of 245.12 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.46.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GRAB. CLSA upgraded shares of Grab to a "moderate buy" rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.71.

Grab Company 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.

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