Caitong International Asset Management Co. Ltd Increases Holdings in Grab Holdings Limited $GRAB

Caitong International Asset Management Co. Ltd boosted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 51.2% during the second quarter, Holdings Channel reports. The firm owned 7,780 shares of the company’s stock after acquiring an additional 2,634 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Grab were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Invesco Ltd. increased its holdings in Grab by 13.6% during the 1st quarter. Invesco Ltd. now owns 57,114,603 shares of the company’s stock valued at $258,729,000 after purchasing an additional 6,820,675 shares during the period. Baillie Gifford & Co. increased its holdings in Grab by 7.3% during the 1st quarter. Baillie Gifford & Co. now owns 50,443,998 shares of the company’s stock valued at $228,511,000 after purchasing an additional 3,422,289 shares during the period. JPMorgan Chase & Co. increased its holdings in Grab by 19.0% during the 1st quarter. JPMorgan Chase & Co. now owns 50,027,575 shares of the company’s stock valued at $226,625,000 after purchasing an additional 7,998,293 shares during the period. PointState Capital LP increased its holdings in Grab by 50.6% during the 1st quarter. PointState Capital LP now owns 35,148,819 shares of the company’s stock valued at $159,224,000 after purchasing an additional 11,804,514 shares during the period. Finally, Coronation Fund Managers Ltd. increased its holdings in Grab by 12.1% during the 1st quarter. Coronation Fund Managers Ltd. now owns 32,063,601 shares of the company’s stock valued at $145,248,000 after purchasing an additional 3,472,193 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GRAB. Hsbc Global Res cut Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research report on Saturday. Finally, HSBC reaffirmed a “hold” rating and set a $6.20 price objective on shares of Grab in a research report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and a consensus price target of $6.06.

Grab Stock Performance

Shares of GRAB opened at $5.85 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.88 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $5.68 and its 200-day moving average price is $5.13. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The stock has a market cap of $23.56 billion, a P/E ratio of 146.29 and a beta of 0.88.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.41 million. Grab had a return on equity of 1.75% and a net margin of 3.65%. Grab has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

About Grab

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.