Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Grab Holdings Limited (NASDAQ:GRAB)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 725,563 shares of the company’s stock, valued at approximately $2,757,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its stake in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in Grab in the 3rd quarter valued at $41,000. Sage Rhino Capital LLC purchased a new stake in shares of Grab during the second quarter worth $38,000. Dorsey & Whitney Trust CO LLC raised its position in shares of Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the last quarter. Finally, Prospect Financial Services LLC purchased a new position in shares of Grab in the second quarter worth about $53,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Performance

Shares of GRAB stock opened at $5.07 on Monday. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72. The company has a market cap of $20.42 billion, a P/E ratio of -253.50 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $4.09 and a 200 day moving average price of $3.68.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on GRAB shares. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price for the company. in a research note on Friday. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday. Finally, Evercore ISI raised their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.42.

Grab Company 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.