Lyrical Asset Management LP Purchases New Shares in Grab Holdings Limited $GRAB

Lyrical Asset Management LP acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 755,474 shares of the company’s stock, valued at approximately $3,770,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH increased its position in shares of Grab by 83.3% in the third quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock worth $5,825,000 after purchasing an additional 439,748 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Grab by 9.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after buying an additional 1,050,619 shares in the last quarter. Altimeter Capital Management LP bought a new position in shares of Grab in the 3rd quarter worth $1,764,000. Citigroup Inc. boosted its holdings in shares of Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after purchasing an additional 17,160,661 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Grab by 98.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock worth $37,316,000 after acquiring an additional 3,711,860 shares during 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 equities analysts recently commented on GRAB shares. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Thursday, February 12th. Morgan Stanley set a $5.90 price target on Grab in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Finally, Mizuho reduced their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Price Performance

GRAB opened at $3.34 on Monday. The firm has a market capitalization of $13.69 billion, a P/E ratio of 334.33, a PEG ratio of 1.52 and a beta of 0.89. Grab Holdings Limited has a 12-month low of $3.33 and a 12-month high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $3.69 and a 200-day moving average of $4.28.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Equities analysts forecast that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Insider Activity at Grab

In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $106,200.00. Following the transaction, the insider directly owned 4,095,430 shares in the company, valued at $14,497,822.20. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $3.43, for a total value of $130,340.00. Following the sale, the insider owned 3,743,306 shares of the company’s stock, valued at approximately $12,839,539.58. This represents a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,156,819 shares of company stock worth $4,245,017. Corporate insiders own 3.60% of the company’s stock.

Grab 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.