SG Americas Securities LLC Raises Stock Position in Grab Holdings Limited $GRAB

SG Americas Securities LLC grew its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 1,495.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,109,015 shares of the company’s stock after acquiring an additional 2,914,120 shares during the period. SG Americas Securities LLC’s holdings in Grab were worth $18,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GRAB. Miracle Mile Advisors LLC grew its position in shares of Grab by 6.4% during the third quarter. Miracle Mile Advisors LLC now owns 33,290 shares of the company’s stock worth $200,000 after purchasing an additional 2,007 shares in the last quarter. Centurion Wealth Management LLC grew its holdings in Grab by 4.4% during the 3rd quarter. Centurion Wealth Management LLC now owns 48,764 shares of the company’s stock valued at $294,000 after buying an additional 2,049 shares in the last quarter. Pitcairn Co. raised its position in shares of Grab by 11.0% during the second quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after buying an additional 2,080 shares during the last quarter. Leibman Financial Services Inc. raised its position in shares of Grab by 1.0% during the third quarter. Leibman Financial Services Inc. now owns 223,884 shares of the company’s stock valued at $1,348,000 after buying an additional 2,141 shares during the last quarter. Finally, J2 Capital Management Inc lifted its holdings in shares of Grab by 21.5% in the second quarter. J2 Capital Management Inc now owns 12,189 shares of the company’s stock worth $61,000 after buying an additional 2,155 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GRAB. Benchmark raised their target price on shares of Grab from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Barclays raised their price objective on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $7.00 target price on shares of Grab in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. Finally, HSBC reaffirmed a “hold” rating and issued a $6.20 price objective on shares of Grab in a research note on Wednesday, September 17th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $6.58.

Grab Stock Down 3.9%

Shares of NASDAQ GRAB opened at $4.88 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Grab Holdings Limited has a 12-month low of $3.36 and a 12-month high of $6.62. The firm’s 50-day moving average price is $5.27 and its 200-day moving average price is $5.37. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 122.03 and a beta of 0.90.

Grab (NASDAQ:GRAB) last released its quarterly 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). Grab had a return on equity of 1.91% and a net margin of 3.81%.The company had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $870.44 million. On average, equities research analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Grab Company Profile

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.