PFG Investments LLC Takes Position in Grab Holdings Limited (NASDAQ:GRAB)

PFG Investments LLC acquired a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. increased its stake in Grab by 9.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 734,198 shares of the company’s stock worth $2,599,000 after acquiring an additional 62,705 shares during the last quarter. Raymond James & Associates raised its stake in Grab by 19.6% in the third quarter. Raymond James & Associates now owns 83,774 shares of the company’s stock valued at $297,000 after purchasing an additional 13,709 shares in the last quarter. Mackenzie Financial Corp lifted its position in Grab by 5.8% during the third quarter. Mackenzie Financial Corp now owns 347,148 shares of the company’s stock valued at $1,163,000 after purchasing an additional 18,940 shares during the last quarter. Advisor Partners II LLC grew its stake in Grab by 103.9% in the 3rd quarter. Advisor Partners II LLC now owns 23,896 shares of the company’s stock worth $85,000 after buying an additional 12,175 shares in the last quarter. Finally, Sage Rhino Capital LLC bought a new position in shares of Grab in the 3rd quarter worth $38,000. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

GRAB traded up $0.03 on Friday, hitting $3.53. 14,366,041 shares of the company were exchanged, compared to its average volume of 26,362,188. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. The firm has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $3.23. Grab Holdings Limited has a 12 month low of $2.67 and a 12 month high of $3.92.

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 the consensus estimate of ($0.02) by $0.03. The firm had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The business’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share. Equities research analysts forecast that Grab Holdings Limited will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

GRAB has been the subject of several research reports. Barclays cut their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research report on Monday, February 5th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.60 to $3.80 in a research report on Thursday, January 18th. Finally, HSBC restated a “buy” rating and issued a $4.30 target price on shares of Grab in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.10.

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.