Contrarius Group Holdings Ltd Makes New Investment in Grab Holdings Limited (NASDAQ:GRAB)

Contrarius Group Holdings Ltd acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, Holdings Channel reports. The fund acquired 1,819,153 shares of the company’s stock, valued at approximately $8,586,000.

A number of other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its holdings in Grab by 85.8% during the 4th quarter. Teacher Retirement System of Texas now owns 1,042,121 shares of the company’s stock worth $4,919,000 after acquiring an additional 481,363 shares during the last quarter. Hanwha Asset Management Co. Ltd. purchased a new position in shares of Grab in the 4th quarter worth about $227,718,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Grab in the 4th quarter worth about $430,000. Vinva Investment Management Ltd boosted its holdings in shares of Grab by 47.0% in the 4th quarter. Vinva Investment Management Ltd now owns 755,587 shares of the company’s stock worth $3,597,000 after buying an additional 241,498 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Grab by 9.3% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,563,333 shares of the company’s stock worth $35,649,000 after buying an additional 645,394 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GRAB has been the topic of a number of research reports. Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Barclays boosted their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Bank of America upgraded 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. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective on the stock in a research note on Friday, February 21st. Finally, HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their price objective for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Trading Up 2.4 %

Shares of GRAB opened at $4.71 on Thursday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $4.66 and its 200-day moving average price is $4.46. The stock has a market cap of $18.97 billion, a PE ratio of -235.50, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72.

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

About Grab

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.