Guggenheim Capital LLC Reduces Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Guggenheim Capital LLC lessened its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 29.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,784 shares of the company’s stock after selling 13,807 shares during the quarter. Guggenheim Capital LLC’s holdings in Grab were worth $155,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GRAB. Hanwha Asset Management Co. Ltd. acquired a new position in Grab in the fourth quarter valued at $227,718,000. Perpetual Ltd acquired a new position in Grab in the fourth quarter valued at $213,177,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock worth $160,075,000 after buying an additional 33,257,610 shares during the period. Norges Bank purchased a new position in shares of Grab during the fourth quarter worth about $145,927,000. Finally, Assenagon Asset Management S.A. increased its position in Grab by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after acquiring an additional 8,868,071 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

NASDAQ:GRAB opened at $4.79 on Wednesday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The stock has a market cap of $19.29 billion, a PE ratio of -239.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The firm’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.61.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price objective on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, CLSA raised shares of Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

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.