Mackenzie Financial Corp Decreases Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Mackenzie Financial Corp decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,452 shares of the company’s stock after selling 10,696 shares during the period. Mackenzie Financial Corp’s holdings in Grab were worth $1,134,000 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 recently made changes to their positions in the business. Lake Street Advisors Group LLC lifted its position in shares of Grab by 0.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock valued at $2,465,000 after buying an additional 2,972 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Grab by 9.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock valued at $141,000 after buying an additional 3,510 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Grab by 9.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock valued at $148,000 after buying an additional 3,632 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Grab by 0.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after buying an additional 4,200 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Grab by 1.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 301,543 shares of the company’s stock valued at $1,067,000 after buying an additional 5,003 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. HSBC restated a “buy” rating and issued a $4.30 price objective on shares of Grab in a report on Thursday, April 4th. Barclays decreased their price objective on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $5.10.

Grab Stock Down 0.9 %

Shares of GRAB opened at $3.48 on Thursday. Grab Holdings Limited has a 52-week low of $2.67 and a 52-week high of $3.92. The company has a market capitalization of $13.65 billion, a PE ratio of -34.80 and a beta of 0.91. The stock has a fifty day simple moving average of $3.25 and a two-hundred day simple moving average of $3.23. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The business had revenue of $653.00 million during the quarter, compared to the consensus estimate of $633.82 million. During the same period last year, the company earned ($0.10) EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, equities analysts forecast that Grab Holdings Limited will post 0.01 EPS for the current year.

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.