Nomura Asset Management Co. Ltd. Reduces Holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Nomura Asset Management Co. Ltd. lowered its position in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 33.9% during the fourth quarter, HoldingsChannel reports. The firm owned 3,406,204 shares of the company’s stock after selling 1,749,984 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Full Truck Alliance were worth $36,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Full Truck Alliance by 1.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company’s stock worth $1,128,000 after buying an additional 1,722 shares in the last quarter. abrdn plc raised its holdings in Full Truck Alliance by 22.6% in the 4th quarter. abrdn plc now owns 22,705 shares of the company’s stock valued at $246,000 after acquiring an additional 4,187 shares during the last quarter. Geode Capital Management LLC lifted its stake in Full Truck Alliance by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock worth $1,067,000 after purchasing an additional 4,235 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $64,000. Finally, Blue Trust Inc. grew its position in shares of Full Truck Alliance by 120.9% in the fourth quarter. Blue Trust Inc. now owns 22,090 shares of the company’s stock valued at $239,000 after purchasing an additional 12,091 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Price Performance

NYSE YMM opened at $12.89 on Friday. The stock has a market capitalization of $13.58 billion, a P/E ratio of 30.68 and a beta of 0.25. The firm’s 50-day moving average is $12.30 and its two-hundred day moving average is $10.55. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85.

Full Truck Alliance Increases Dividend

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

Wall Street Analysts Forecast Growth

YMM has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. Citigroup boosted their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays upped their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Full Truck Alliance presently has an average rating of “Buy” and a consensus price target of $16.40.

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.