Beaconlight Capital LLC Takes Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Beaconlight Capital LLC acquired a new position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 404,897 shares of the company’s stock, valued at approximately $4,782,000. Full Truck Alliance comprises about 2.7% of Beaconlight Capital LLC’s holdings, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in YMM. Boothbay Fund Management LLC boosted its stake in shares of Full Truck Alliance by 90.1% during the 2nd quarter. Boothbay Fund Management LLC now owns 66,160 shares of the company’s stock worth $781,000 after acquiring an additional 31,360 shares during the last quarter. Bank of America Corp DE raised its holdings in Full Truck Alliance by 8.9% in the 2nd quarter. Bank of America Corp DE now owns 4,797,378 shares of the company’s stock worth $56,657,000 after purchasing an additional 392,901 shares during the period. Alkeon Capital Management LLC lifted its position in Full Truck Alliance by 5.7% during the second quarter. Alkeon Capital Management LLC now owns 14,698,535 shares of the company’s stock valued at $173,590,000 after purchasing an additional 790,000 shares in the last quarter. Lighthouse Investment Partners LLC grew its holdings in Full Truck Alliance by 316.2% during the second quarter. Lighthouse Investment Partners LLC now owns 285,207 shares of the company’s stock valued at $3,368,000 after purchasing an additional 216,675 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Full Truck Alliance in the second quarter worth about $32,268,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Stock Performance

YMM stock opened at $11.75 on Friday. The company’s fifty day moving average price is $12.12 and its 200-day moving average price is $12.25. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $9.45 and a one year high of $14.07. The company has a market capitalization of $12.29 billion, a PE ratio of 22.17 and a beta of 0.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on YMM shares. Jefferies Financial Group set a $13.00 price objective on Full Truck Alliance in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Full Truck Alliance in a report on Wednesday, October 8th. Barclays reduced their price objective on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 19th. Finally, Morgan Stanley set a $14.00 target price on shares of Full Truck Alliance in a report on Monday, November 17th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.43.

About Full Truck Alliance

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.