Investment Management Corp of Ontario Has $262,000 Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Investment Management Corp of Ontario increased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 47.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 68,918 shares of the company’s stock after acquiring an additional 22,100 shares during the period. Investment Management Corp of Ontario’s holdings in Grab were worth $262,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in Grab by 87.9% in the third quarter. HighTower Advisors LLC now owns 31,546 shares of the company’s stock valued at $119,000 after purchasing an additional 14,759 shares in the last quarter. Centiva Capital LP grew its stake in shares of Grab by 748.9% in the third quarter. Centiva Capital LP now owns 103,059 shares of the company’s stock valued at $392,000 after buying an additional 90,918 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Grab in the third quarter valued at $962,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Grab by 3.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,605,519 shares of the company’s stock worth $32,701,000 after buying an additional 299,354 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in Grab by 25.4% during the third quarter. Maverick Capital Ltd. now owns 552,692 shares of the company’s stock worth $2,100,000 after acquiring an additional 112,107 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Stock Down 1.9 %

GRAB stock opened at $5.14 on Monday. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of -257.00 and a beta of 0.90. The business’s fifty day moving average price is $4.39 and its two-hundred day moving average price is $3.79.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GRAB shares. Daiwa Capital Markets initiated coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Hsbc Global Res downgraded Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Barclays raised their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Mizuho raised their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and an average price target of $5.53.

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.