Cercano Management LLC Takes Position in Grab Holdings Limited $GRAB

Cercano Management LLC acquired a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, Holdings Channel reports. The fund acquired 1,600,000 shares of the company’s stock, valued at approximately $7,984,000.

Several other institutional investors and hedge funds have also made changes to their positions in GRAB. Integrated Wealth Concepts LLC boosted its holdings in shares of Grab by 201.2% in the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock valued at $160,000 after acquiring an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Grab by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the last quarter. Empowered Funds LLC boosted its holdings in Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after buying an additional 3,090 shares in the last quarter. Focus Partners Wealth acquired a new position in Grab in the first quarter worth approximately $63,000. Finally, Cetera Investment Advisers increased its holdings in shares of Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after buying an additional 11,158 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GRAB shares. 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 report on Wednesday, May 6th. Zacks Research downgraded Grab from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Morgan Stanley set a $5.90 price objective on Grab in a research report on Wednesday, May 6th. Mizuho cut their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Benchmark reiterated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Insider Activity

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $117,600.00. Following the completion of the sale, the insider owned 4,145,430 shares of the company’s stock, valued at $16,250,085.60. This trade represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of Grab stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total transaction of $170,400.00. Following the sale, 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. Over the last 90 days, insiders sold 1,118,819 shares of company stock worth $4,114,677. Company insiders own 3.60% of the company’s stock.

Grab Trading Up 2.0%

Grab stock opened at $3.61 on Tuesday. The company has a 50 day moving average price of $3.71 and a 200 day moving average price of $4.33. Grab Holdings Limited has a 52 week low of $3.39 and a 52 week high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 361.36, a P/E/G ratio of 1.61 and a beta of 0.89.

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

Grab Company 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.