Los Angeles Capital Management LLC Cuts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Los Angeles Capital Management LLC cut its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 48.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,502 shares of the company’s stock after selling 56,321 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Grab were worth $187,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Optas LLC purchased a new stake in Grab during the fourth quarter worth about $36,000. Meridian Wealth Partners LLC bought a new stake in shares of Grab in the 4th quarter worth approximately $36,000. Sivia Capital Partners LLC purchased a new position in Grab in the fourth quarter valued at approximately $47,000. Cerity Partners LLC bought a new position in Grab during the fourth quarter valued at $58,000. Finally, Leo Wealth LLC purchased a new stake in Grab in the fourth quarter worth $61,000. 55.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Mizuho began coverage on shares of Grab in a report on Thursday. They issued an “outperform” rating and a $5.00 price objective for the company. HSBC reissued a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a research note on Friday, May 17th. They set a “buy” rating and a $4.50 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.06.

Grab Trading Up 0.9 %

Shares of GRAB stock opened at $3.54 on Friday. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $3.92. The business’s fifty day moving average is $3.58 and its 200 day moving average is $3.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.22 and a current ratio of 3.26. The company has a market capitalization of $13.89 billion, a PE ratio of -50.56 and a beta of 0.82.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The business had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $662.48 million. On average, equities research analysts anticipate that Grab Holdings Limited will post -0.01 EPS for the current fiscal 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.