Federated Hermes Inc. Lowers Stake in Grab Holdings Limited $GRAB

Federated Hermes Inc. cut its position in Grab Holdings Limited (NASDAQ:GRAB) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,117,668 shares of the company’s stock after selling 2,327,078 shares during the period. Federated Hermes Inc. owned about 0.28% of Grab worth $66,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Miracle Mile Advisors LLC increased its stake in Grab by 6.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 33,290 shares of the company’s stock worth $200,000 after buying an additional 2,007 shares in the last quarter. Centurion Wealth Management LLC boosted its stake in shares of Grab by 4.4% in the third quarter. Centurion Wealth Management LLC now owns 48,764 shares of the company’s stock worth $294,000 after acquiring an additional 2,049 shares during the period. Pitcairn Co. grew its position in shares of Grab by 11.0% during the second quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock worth $105,000 after purchasing an additional 2,080 shares in the last quarter. Leibman Financial Services Inc. raised its stake in Grab by 1.0% during the 3rd quarter. Leibman Financial Services Inc. now owns 223,884 shares of the company’s stock valued at $1,348,000 after purchasing an additional 2,141 shares during the period. Finally, J2 Capital Management Inc raised its stake in Grab by 21.5% during the 2nd quarter. J2 Capital Management Inc now owns 12,189 shares of the company’s stock valued at $61,000 after purchasing an additional 2,155 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GRAB. HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a research note on Friday, January 16th. Barclays upped their target price on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Grab from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $5.80 price target on shares of Grab in a research note on Monday. Finally, Jefferies Financial Group restated a “buy” rating and set a $7.00 price objective on shares of Grab in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Grab currently has a consensus rating of “Buy” and an average target price of $6.47.

Grab Price Performance

GRAB stock opened at $4.53 on Thursday. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The firm has a market capitalization of $18.24 billion, a P/E ratio of 113.28 and a beta of 0.90. The company has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $5.34. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. Analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal 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.