Affinity Wealth Management LLC Invests $3.80 Million in Grab Holdings Limited (NASDAQ:GRAB)

Affinity Wealth Management LLC purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 999,476 shares of the company's stock, valued at approximately $3,798,000.

A number of other institutional investors have also recently made changes to their positions in GRAB. Miracle Mile Advisors LLC bought a new position in Grab during the first quarter valued at approximately $32,000. Dorsey & Whitney Trust CO LLC bought a new position in Grab during the first quarter valued at approximately $32,000. Callan Capital LLC bought a new position in Grab during the first quarter valued at approximately $34,000. Sage Rhino Capital LLC bought a new position in Grab during the second quarter valued at approximately $38,000. Finally, Lane & Associates LLC bought a new position in Grab in the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Trading Down 0.5 %

GRAB traded down $0.02 on Monday, reaching $3.63. 25,557,860 shares of the company traded hands, compared to its average volume of 23,008,492. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.88. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The company has a market cap of $14.24 billion, a P/E ratio of -51.86 and a beta of 0.83. The firm has a fifty day simple moving average of $3.45 and a two-hundred day simple moving average of $3.47.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The company's quarterly revenue was up 17.1% compared to the same quarter last year. As a group, equities research analysts expect that Grab Holdings Limited will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GRAB. Mizuho started coverage on shares of Grab in a research report on Thursday, June 27th. They issued an "outperform" rating and a $5.00 price target on the stock. Benchmark reaffirmed a "buy" rating and set a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group lowered their target price on shares of Grab from $5.00 to $4.70 and set a "buy" rating for the company in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.71.

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.