Tree Line Advisors Hong Kong Ltd. Takes $38 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Tree Line Advisors Hong Kong Ltd. bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,000,000 shares of the company’s stock, valued at approximately $38,000,000. Grab accounts for about 8.8% of Tree Line Advisors Hong Kong Ltd.’s investment portfolio, making the stock its 6th biggest position.

Other large investors also recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd raised its holdings in shares of Grab by 13.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company’s stock worth $470,000 after acquiring an additional 15,000 shares during the last quarter. Citigroup Inc. increased its holdings in Grab by 83.6% during the 3rd quarter. Citigroup Inc. now owns 14,277,673 shares of the company’s stock worth $54,255,000 after purchasing an additional 6,503,051 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Grab by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock worth $5,434,000 after purchasing an additional 48,596 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Grab in the third quarter valued at approximately $1,986,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Grab during the third quarter valued at approximately $2,757,000. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRAB has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a report on Thursday, November 21st. Mizuho boosted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Bank of America downgraded Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price on the stock. in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.42.

Grab Trading Down 0.4 %

Shares of GRAB stock opened at $5.12 on Tuesday. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72. 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 company has a 50 day moving average of $4.13 and a 200-day moving average of $3.69. The firm has a market cap of $20.62 billion, a P/E ratio of -257.00 and a beta of 0.81.

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

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.