PointState Capital LP Acquires Shares of 6,971,499 Grab Holdings Limited (NASDAQ:GRAB)

PointState Capital LP acquired a new stake in Grab Holdings Limited (NASDAQ:GRAB) during the third quarter, HoldingsChannel.com reports. The fund acquired 6,971,499 shares of the company’s stock, valued at approximately $26,492,000.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Grab in the 3rd quarter valued at $41,000. Sage Rhino Capital LLC purchased a new position in shares of Grab in the 2nd quarter valued at $38,000. Glenmede Trust Co. NA purchased a new position in shares of Grab in the 3rd quarter valued at $53,000. Finally, Dorsey & Whitney Trust CO LLC grew its position in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Up 2.1 %

GRAB stock opened at $5.29 on Wednesday. Grab Holdings Limited has a one year low of $2.90 and a one year high of $5.72. The stock has a market capitalization of $21.30 billion, a PE ratio of -264.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a fifty day moving average of $4.31 and a 200-day moving average of $3.76.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter last year, the business earned ($0.02) earnings per share. As a group, analysts expect that Grab Holdings Limited will post -0.03 EPS for the current year.

Analyst Ratings Changes

GRAB has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price on the stock. in a research report on Friday, November 22nd. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research note on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a research note on Tuesday, November 12th. Mizuho increased their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI increased their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $5.42.

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.