Ramirez Asset Management Inc. Cuts Stock Holdings in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Ramirez Asset Management Inc. reduced its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 212,854 shares of the company’s stock after selling 1,286 shares during the period. Ramirez Asset Management Inc.’s holdings in Full Truck Alliance were worth $2,514,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Full Truck Alliance by 9.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,314 shares of the company’s stock worth $311,000 after purchasing an additional 2,168 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new position in Full Truck Alliance during the second quarter worth about $3,130,000. Truist Financial Corp raised its holdings in Full Truck Alliance by 25.6% during the second quarter. Truist Financial Corp now owns 31,132 shares of the company’s stock worth $368,000 after purchasing an additional 6,344 shares in the last quarter. ABS Direct Equity Fund LLC raised its holdings in Full Truck Alliance by 391.6% during the second quarter. ABS Direct Equity Fund LLC now owns 496,480 shares of the company’s stock worth $5,863,000 after purchasing an additional 395,480 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Full Truck Alliance during the second quarter worth about $2,914,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Full Truck Alliance in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Full Truck Alliance Trading Down 1.9%

Shares of YMM opened at $12.82 on Friday. The firm’s 50-day moving average is $12.63 and its two-hundred day moving average is $12.08. The firm has a market capitalization of $13.41 billion, a P/E ratio of 22.89 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $8.20 and a twelve month high of $14.07.

Full Truck Alliance Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be given a $0.096 dividend. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 150.0%. Full Truck Alliance’s dividend payout ratio is currently 28.57%.

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.