Brokerages Set Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Price Target at $11.43

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) has received an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.4125.

Several equities research analysts have recently issued reports on the stock. iA Financial set a $8.00 target price on shares of Full Truck Alliance in a research note on Monday, January 12th. Bank of America assumed coverage on shares of Full Truck Alliance in a research note on Tuesday. They set a “buy” rating and a $11.30 target price on the stock. Morgan Stanley reissued an “overweight” rating on shares of Full Truck Alliance in a research note on Thursday, March 12th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from an “underweight” rating to a “neutral” rating and set a $8.00 target price on the stock in a research note on Wednesday, April 1st. Finally, Citigroup reissued a “buy” rating on shares of Full Truck Alliance in a research note on Monday, April 20th.

Institutional Investors Weigh In On Full Truck Alliance

Several hedge funds have recently modified their holdings of YMM. Royal Bank of Canada boosted its stake in shares of Full Truck Alliance by 172.4% during the 1st quarter. Royal Bank of Canada now owns 34,765 shares of the company’s stock worth $444,000 after acquiring an additional 22,001 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Full Truck Alliance by 11.6% during the 2nd quarter. Geode Capital Management LLC now owns 159,770 shares of the company’s stock worth $1,887,000 after acquiring an additional 16,591 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Full Truck Alliance by 274.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock worth $46,000 after purchasing an additional 2,845 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Full Truck Alliance by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 1,134,627 shares of the company’s stock worth $13,400,000 after purchasing an additional 83,434 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Full Truck Alliance during the 2nd quarter worth about $118,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

NYSE:YMM opened at $8.79 on Friday. The company has a 50 day moving average price of $8.65 and a 200-day moving average price of $10.19. Full Truck Alliance has a 1-year low of $8.04 and a 1-year high of $14.07. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30.

Full Truck Alliance (NYSE:YMM) last posted its earnings results on Saturday, February 14th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $456.32 million during the quarter. Full Truck Alliance had a net margin of 35.22% and a return on equity of 11.33%. On average, sell-side analysts anticipate that Full Truck Alliance will post 0.66 earnings per share for the current fiscal year.

Full Truck Alliance Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a dividend of $0.084 per share. This represents a dividend yield of 201.0%. The ex-dividend date of this dividend was Wednesday, April 8th. Full Truck Alliance’s dividend payout ratio is presently 23.33%.

About Full Truck Alliance

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.