Deltec Asset Management LLC Acquires 2,027,655 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Deltec Asset Management LLC boosted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 827.6% in the first quarter, HoldingsChannel reports. The firm owned 2,272,655 shares of the company’s stock after purchasing an additional 2,027,655 shares during the period. Grab makes up about 1.4% of Deltec Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. Deltec Asset Management LLC’s holdings in Grab were worth $7,136,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in GRAB. Optas LLC bought a new stake in shares of Grab in the 4th quarter valued at $36,000. Meridian Wealth Partners LLC bought a new position in Grab during the fourth quarter worth $36,000. Lane & Associates LLC acquired a new stake in Grab in the first quarter worth $39,000. Sivia Capital Partners LLC bought a new stake in Grab in the fourth quarter valued at $47,000. Finally, Cerity Partners LLC acquired a new position in shares of Grab during the fourth quarter valued at about $58,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Stock Up 0.3 %

NASDAQ GRAB traded up $0.01 on Friday, reaching $3.55. The company had a trading volume of 14,058,742 shares, compared to its average volume of 18,333,696. The company has a quick ratio of 3.22, a current ratio of 3.26 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $13.93 billion, a P/E ratio of -50.71 and a beta of 0.82. The company’s fifty day moving average is $3.58 and its 200 day moving average is $3.35. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $3.92.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $662.48 million. Sell-side analysts anticipate that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GRAB. HSBC restated a “buy” rating and issued a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Mizuho initiated coverage on Grab in a report on Thursday. They set an “outperform” rating and a $5.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a report on Friday, May 17th. They issued a “buy” rating and a $4.50 target price on the stock. Barclays boosted their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, May 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Grab presently has a consensus rating of “Buy” and a consensus target price of $5.06.

Grab Profile

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.