Janney Montgomery Scott LLC Makes New Investment in Grab Holdings Limited (NASDAQ:GRAB)

Janney Montgomery Scott LLC purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRABGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,131 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of Grab by 50.9% in the first quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock valued at $379,128,000 after purchasing an additional 36,542,740 shares during the period. BlackRock Inc. acquired a new stake in Grab during the first quarter worth about $161,045,000. Capital International Investors grew its stake in Grab by 0.8% during the first quarter. Capital International Investors now owns 19,097,374 shares of the company’s stock worth $66,841,000 after buying an additional 145,174 shares in the last quarter. State Street Corp acquired a new stake in Grab during the first quarter worth about $49,695,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Grab by 137.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,937,502 shares of the company’s stock worth $20,781,000 after buying an additional 3,438,772 shares in the last quarter. 46.17% of the stock is owned by institutional investors.

Grab Trading Down 0.3 %

Shares of NASDAQ GRAB opened at $3.21 on Friday. The company has a 50 day simple moving average of $2.75 and a 200 day simple moving average of $2.84. Grab Holdings Limited has a 1 year low of $2.19 and a 1 year high of $13.29. The company has a current ratio of 7.41, a quick ratio of 7.37 and a debt-to-equity ratio of 0.28.

Grab (NASDAQ:GRABGet Rating) last released its quarterly earnings results on Thursday, August 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Grab had a negative return on equity of 45.07% and a negative net margin of 277.57%. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $307.69 million. Equities research analysts anticipate that Grab Holdings Limited will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GRAB shares. JPMorgan Chase & Co. downgraded shares of Grab from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $3.00 to $3.80 in a research note on Monday, August 8th. Citigroup reduced their price target on shares of Grab from $5.40 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 8th. Finally, Barclays started coverage on shares of Grab in a research note on Monday, October 10th. They issued an “equal weight” rating and a $3.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Grab Company Profile

(Get Rating)

Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.

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Institutional Ownership by Quarter for Grab (NASDAQ:GRAB)

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