Matthews International Capital Management LLC Decreases Stock Holdings in Grab Holdings Limited $GRAB

Matthews International Capital Management LLC decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 15.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,116,032 shares of the company’s stock after selling 552,754 shares during the period. Grab accounts for about 4.4% of Matthews International Capital Management LLC’s portfolio, making the stock its 7th biggest position. Matthews International Capital Management LLC’s holdings in Grab were worth $18,759,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Invesco Ltd. raised its position in shares of Grab by 11.8% during the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock valued at $321,325,000 after acquiring an additional 6,767,182 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Grab by 20.8% in the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock valued at $304,092,000 after purchasing an additional 10,428,014 shares in the last quarter. State Street Corp lifted its stake in Grab by 1.8% in the 2nd quarter. State Street Corp now owns 43,322,397 shares of the company’s stock valued at $217,912,000 after acquiring an additional 759,696 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Grab by 13.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock valued at $200,422,000 after acquiring an additional 4,710,420 shares in the last quarter. Finally, PointState Capital LP increased its stake in shares of Grab by 50.6% during the 1st quarter. PointState Capital LP now owns 35,148,819 shares of the company’s stock worth $159,224,000 after purchasing an additional 11,804,514 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Trading Up 0.4%

Shares of GRAB opened at $5.15 on Friday. 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 market cap of $20.74 billion, a price-to-earnings ratio of 128.78 and a beta of 0.89. Grab Holdings Limited has a fifty-two week low of $3.36 and a fifty-two week high of $6.62. The firm has a 50 day moving average price of $5.41 and a 200-day moving average price of $5.35.

Grab (NASDAQ:GRAB) last issued its earnings results on Tuesday, November 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. As a group, equities research analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Grab from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Jefferies Financial Group reissued a “buy” rating and set a $7.00 price target on shares of Grab in a report on Tuesday, November 4th. HSBC reiterated a “hold” rating and issued a $6.20 target price on shares of Grab in a research report on Wednesday, September 17th. Benchmark upped their price target on shares of Grab from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.37.

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.