Full Truck Alliance Co. Ltd. (NYSE:YMM) Given Average Recommendation of “Buy” by Brokerages

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) have been given a consensus recommendation of “Buy” by the six research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.40.

YMM has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Citigroup lifted their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. HSBC started coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $18.00 in a report on Thursday, March 6th. Finally, Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th.

Institutional Trading of Full Truck Alliance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $64,000. Townsquare Capital LLC bought a new position in Full Truck Alliance in the fourth quarter valued at approximately $111,000. Wolverine Trading LLC acquired a new stake in Full Truck Alliance during the 4th quarter worth $115,000. Vise Technologies Inc. bought a new stake in shares of Full Truck Alliance during the 4th quarter valued at $130,000. Finally, Truist Financial Corp acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $143,000. 39.02% of the stock is owned by institutional investors.

Full Truck Alliance Stock Up 1.6 %

Shares of Full Truck Alliance stock opened at $13.34 on Tuesday. The stock has a market capitalization of $14.05 billion, a P/E ratio of 31.75 and a beta of 0.25. Full Truck Alliance has a 12-month low of $6.66 and a 12-month high of $13.85. The company has a 50-day simple moving average of $12.15 and a 200 day simple moving average of $10.43.

Full Truck Alliance Increases Dividend

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

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.