Morgan Stanley Investment Managem 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 81.21% to 214.87 million shares with purchase of 96.29 million shares. This fresh investment now brings its stake to 5.77% valued currently at $558.65 million. In addition, Mitsubishi UFJ Kokusai Asset Mana raised its holdings by 0.13 million to 143.36 million shares. And BlackRock Fund Advisors has lifted its position by 19.43% or 6.78 million shares – to 41.68 million shares.
With over 25.66 million Grab Holdings Limited (GRAB) shares trading Monday and a closing price of $2.97 on the day, the dollar volume was approximately $76.22 million. The shares have shown a positive half year performance of 2.77% and its price on 11/21/22 lost nearly -7.48%. Currently, there are 4.09B common shares owned by the public and among those 2.79B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for GRAB have a consensus price objective of $4.07. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $2.50. The average price target is 29.12% above its recent price level and a downside to the estimated low will see the stock lose -18.8% over that period. But an upside of 50.5% will see the stock hit the forecast high price target while median target price for the stock is $3.85.
The top 3 mutual fund holders in Grab Holdings Limited are American Funds EuroPacific Growth, Morgan Stanley Invt. Fds. – Globa, and American Funds New World Fund. American Funds EuroPacific Growth owns 68.21 million shares of the company’s stock, all valued at over $177.34 million. The company sold -23.47 million shares recently to bring their total holdings to about 1.83% of the shares outstanding. Morgan Stanley Invt. Fds. – Globa sold -2.82 million shares to see its total holdings shrink to 51.04 million shares valued at over $132.71 million and representing 1.37% of the shares outstanding. American Funds New World Fund sold -3.18 million shares to bring its total holdings to over 43.38 million shares at a value of $112.79 million. American Funds New World Fund now owns shares totaling to 1.17% of the shares outstanding.
Shares of Grab Holdings Limited (NASDAQ: GRAB) opened at $3.12, down -$0.09 from a prior closing price of $3.21. However, the script later moved the day high at 3.2050, down -7.48%. The company’s stock has a 5-day price change of 0.34% and -14.41% over the past three months. GRAB shares are trading -58.35% year to date (YTD), with the 12-month market performance down to -78.79% lower. It has a 12-month low price of $2.19 and touched a high of $14.95 over the same period. GRAB has an average intraday trading volume of 20.02 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 7.20%, 7.81%, and -7.26% respectively.
Institutional ownership of Grab Holdings Limited (NASDAQ: GRAB) shares accounts for 48.00% of the company’s 4.09B shares outstanding. Mutual fund holders own 13.22%, while other institutional holders and individual stakeholders account for 13.68% and — respectively.
It has a market capitalization of $11.47B. The earnings-per-share (ttm) stands at -$0.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.28% over the week and 8.18% over the month.
Analysts forecast that Grab Holdings Limited (GRAB) will achieve an EPS of -$0.12 for the current quarter, -$0.12 for the next quarter and -$0.34 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.12. Earnings per share for the fiscal year are expected to decrease by -32.20%, and 41.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Grab Holdings Limited (GRAB) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 6 of the 23 advise that investors “hold,” and 2 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 Equal Weight rating for the stock in a research note on October 10, 2022, with the firm’s price target at $3. JP Morgan coverage for the Grab Holdings Limited (GRAB) stock in a research note released on August 08, 2022 offered a Neutral rating with a price target of $3.80. JP Morgan was of a view on July 18, 2022 that the stock is Overweight, while Deutsche Bank gave the stock Buy rating on June 17, 2022, issuing a price target of $3.20. China Renaissance on their part issued Buy rating on June 06, 2022.