Mitsubishi UFJ Asset Management C recently announced the acquisition of new stake in Grab Holdings Limited (NASDAQ:GRAB). The institutional investor has increased its shareholding in the Technology company by 0.14% to 143.85 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 3.84% valued currently at $437.31 million. In addition, BlackRock Fund Advisors raised its holdings by 0.7 million to 61.45 million shares. And Tiger Global Management LLC has lifted its position by 119.00% or 27.88 million shares – to 51.3 million shares.
With over 13.11 million Grab Holdings Limited (GRAB) shares trading Friday and a closing price of $3.27 on the day, the dollar volume was approximately $42.87 million. The shares have shown a negative half year performance of -1.51% and its price on 01/05/24 gained nearly 0.62%. Currently, there are 3.74B common shares owned by the public and among those 1.98B shares have been available to trade.
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The top 3 mutual fund holders in Grab Holdings Limited are American Funds EuroPacific Growth, American Funds New World Fund, and Morgan Stanley Invt. Fds. – Globa. American Funds EuroPacific Growth owns 70.31 million shares of the company’s stock, all valued at over $213.73 million. The company sold -12.26 million shares recently to bring their total holdings to about 1.88% of the shares outstanding. American Funds New World Fund sold -6.88 million shares to see its total holdings shrink to 52.03 million shares valued at over $158.18 million and representing 1.39% of the shares outstanding. Morgan Stanley Invt. Fds. – Globa now owns shares totaling to 1.34% of the shares outstanding.
Shares of Grab Holdings Limited (NASDAQ: GRAB) opened at $3.22, down -$0.03 from a prior closing price of $3.25. However, the script later moved the day high at 3.3200, up 0.62%. The company’s stock has a 5-day price change of 0.62% and -6.03% over the past three months. GRAB shares are trading -2.97% year to date (YTD), with the 12-month market performance down to -6.57% lower. It has a 12-month low price of $2.65 and touched a high of $4.03 over the same period. GRAB has an average intraday trading volume of 19.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.23%, 2.83%, and -0.44% respectively.
Institutional ownership of Grab Holdings Limited (NASDAQ: GRAB) shares accounts for 35.64% of the company’s 3.74B shares outstanding. Mutual fund holders own 16.83%, while other institutional holders and individual stakeholders account for 21.23% and — respectively.
It has a market capitalization of $12.62B and a beta (3y monthly) value of 0.91. The earnings-per-share (ttm) stands at -$0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.41% over the week and 2.98% over the month.
Analysts forecast that Grab Holdings Limited (GRAB) will achieve an EPS of -$0.02 for the current quarter, -$0.01 for the next quarter and -$0.04 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 68.32%, and 54.83% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Grab Holdings Limited (GRAB) as a “Strong Buy” at a consensus score of 1.37. Specifically, 21 Wall Street analysts polled rate the stock as a buy, while 1 of the 27 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GRAB, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on August 24, 2023, with the firm’s price target at $4.50.
