Mediolanum International Funds Ltd Raises Stock Holdings in Grab Holdings Limited $GRAB

Mediolanum International Funds Ltd lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 131.5% in the third quarter, HoldingsChannel reports. The firm owned 1,697,761 shares of the company’s stock after purchasing an additional 964,475 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Grab were worth $10,373,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Grab by 11.8% in the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock worth $321,325,000 after buying an additional 6,767,182 shares during the last quarter. JPMorgan Chase & Co. raised its position in Grab by 20.8% during 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 during the period. State Street Corp raised its position in Grab by 1.8% during the second quarter. State Street Corp now owns 43,322,397 shares of the company’s stock valued at $217,912,000 after purchasing an additional 759,696 shares during the period. Artisan Partners Limited Partnership lifted its stake 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 purchasing an additional 4,710,420 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Grab in the 2nd quarter worth approximately $175,192,000. Institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GRAB shares. Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $7.00 price objective on shares of Grab in a research report on Tuesday, November 4th. Barclays increased their price target on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $5.80 price target on shares of Grab in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.47.

Grab Price Performance

GRAB opened at $4.30 on Monday. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 107.53 and a beta of 0.92. 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 business’s fifty day simple moving average is $4.95 and its 200-day simple moving average is $5.33.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Grab had a return on equity of 1.91% and a net margin of 3.81%.The business 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 earnings per share for the current fiscal year.

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.