Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 39.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 171,917 shares of the company’s stock after selling 112,516 shares during the quarter. Mackenzie Financial Corp’s holdings in Grab were worth $610,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Grab by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,386,008 shares of the company’s stock valued at $19,120,000 after buying an additional 129,604 shares during the last quarter. Maverick Capital Ltd. raised its stake in Grab by 241.2% during the 2nd quarter. Maverick Capital Ltd. now owns 440,585 shares of the company’s stock valued at $1,564,000 after acquiring an additional 311,460 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in Grab during the 2nd quarter worth approximately $539,000. APG Asset Management N.V. grew its stake in shares of Grab by 533.9% in the 2nd quarter. APG Asset Management N.V. now owns 193,174 shares of the company’s stock valued at $640,000 after purchasing an additional 162,700 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Grab by 29.2% in the second quarter. AQR Capital Management LLC now owns 16,872,014 shares of the company’s stock valued at $59,811,000 after purchasing an additional 3,812,994 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Down 0.5 %

GRAB stock opened at $3.68 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The company’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.45. The firm has a market capitalization of $14.44 billion, a PE ratio of -52.57 and a beta of 0.83. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $3.88.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) earnings per share. Equities analysts expect that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GRAB shares. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Wednesday, September 11th. Jefferies Financial Group dropped their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Mizuho started coverage on shares of Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $4.71.

Grab 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.