Moore Capital Management LP Purchases 1,715,352 Shares of Grab Holdings Limited $GRAB

Moore Capital Management LP grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 239.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,432,113 shares of the company’s stock after buying an additional 1,715,352 shares during the quarter. Moore Capital Management LP’s holdings in Grab were worth $12,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Grab by 9.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after buying an additional 1,050,619 shares during the period. Altimeter Capital Management LP purchased a new stake in shares of Grab in the 3rd quarter worth $1,764,000. Citigroup Inc. increased its stake 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. Massachusetts Financial Services Co. MA increased its stake 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 purchasing an additional 3,711,860 shares in the last quarter. Finally, Oaktree Capital Management LP increased its stake in shares of Grab by 4.5% in the 3rd quarter. Oaktree Capital Management LP now owns 12,094,495 shares of the company’s stock worth $72,809,000 after purchasing an additional 525,200 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Stock Down 1.1%

GRAB opened at $3.45 on Thursday. The firm has a 50-day simple moving average of $3.65 and a two-hundred day simple moving average of $4.17. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The company has a market capitalization of $14.14 billion, a PE ratio of 345.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling at Grab

In other Grab news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the completion of the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at $92,458.31. This represents a 94.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total transaction of $170,400.00. Following the transaction, the insider directly owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,636,819 shares of company stock valued at $5,931,417 in the last 90 days. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRAB. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, May 6th. Mizuho reduced their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

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.