Fortis Capital Advisors LLC Buys Shares of 133,230 Grab Holdings Limited $GRAB

Fortis Capital Advisors LLC purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 133,230 shares of the company’s stock, valued at approximately $802,000.

Several other institutional investors have also recently made changes to their positions in the company. AlphaCore Capital LLC purchased a new position in Grab in the second quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Grab by 51.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock valued at $39,000 after purchasing an additional 2,634 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Grab during the 2nd quarter worth $50,000. Savant Capital LLC acquired a new stake in shares of Grab during the 2nd quarter worth about $51,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in Grab in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Grab in a research note on Tuesday, November 4th. Barclays increased their price objective on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Wall Street Zen raised Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.47.

Grab Trading Up 2.9%

Shares of NASDAQ:GRAB opened at $4.69 on Wednesday. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The company’s 50 day moving average is $4.99 and its two-hundred day moving average is $5.35. The company has a market cap of $18.89 billion, a PE ratio of 117.28 and a beta of 0.90. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05.

Grab (NASDAQ:GRAB) last issued its earnings results on Tuesday, November 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Grab had a return on equity of 1.91% and a net margin of 3.81%.The firm had revenue of $873.00 million for the quarter, compared to analyst estimates of $870.44 million. Equities analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Grab Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.