Full Truck Alliance Co. Ltd. (NYSE:YMM) Position Boosted by FIL Ltd

FIL Ltd lifted its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 83.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,730,620 shares of the company’s stock after purchasing an additional 23,468,794 shares during the quarter. FIL Ltd’s holdings in Full Truck Alliance were worth $559,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in YMM. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance in the 4th quarter worth approximately $64,000. Truist Financial Corp purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth $143,000. Savant Capital LLC purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth $194,000. Wilmington Savings Fund Society FSB acquired a new stake in Full Truck Alliance during the third quarter valued at $207,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Full Truck Alliance by 20.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company’s stock valued at $221,000 after purchasing an additional 3,442 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. HSBC initiated coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target for the company. Citigroup boosted their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Trading Down 5.8 %

Shares of Full Truck Alliance stock opened at $10.49 on Tuesday. The firm has a fifty day simple moving average of $12.39 and a 200-day simple moving average of $10.80. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 24.96 and a beta of 0.19. Full Truck Alliance Co. Ltd. has a 1-year low of $6.66 and a 1-year high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be given a dividend of $0.1444 per share. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a yield of 0.9%. Full Truck Alliance’s payout ratio is currently 39.02%.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.