SummitTX Capital L.P. Invests $515,000 in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

SummitTX Capital L.P. acquired a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 62,094 shares of the company’s stock, valued at approximately $515,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of YMM. Lazard Asset Management LLC lifted its position in Full Truck Alliance by 2.7% during the 1st quarter. Lazard Asset Management LLC now owns 652,987 shares of the company’s stock worth $5,420,000 after acquiring an additional 17,264 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Full Truck Alliance during the first quarter valued at about $11,592,000. Caxton Associates LLP acquired a new stake in shares of Full Truck Alliance in the first quarter valued at about $523,000. Parallel Advisors LLC acquired a new stake in shares of Full Truck Alliance in the first quarter valued at about $25,000. Finally, Hsbc Holdings PLC grew its position in shares of Full Truck Alliance by 62.4% in the first quarter. Hsbc Holdings PLC now owns 1,975,692 shares of the company’s stock valued at $16,301,000 after purchasing an additional 758,900 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

NYSE:YMM opened at $9.49 on Friday. The firm’s 50-day moving average is $8.62 and its 200-day moving average is $8.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $7.45 and a 52-week high of $14.07. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.84 and a beta of 0.31.

Full Truck Alliance Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a $0.084 dividend. This represents a dividend yield of 201.0%. The ex-dividend date was Tuesday, July 7th. Full Truck Alliance’s dividend payout ratio (DPR) is presently 28.07%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on YMM shares. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $8.60 to $10.00 in a research report on Monday, June 29th. Nomura set a $11.00 target price on Full Truck Alliance in a report on Monday, June 15th. Bank of America initiated coverage on Full Truck Alliance in a research report on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price target on the stock. Weiss Ratings lowered Full Truck Alliance from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of Full Truck Alliance in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.04.

Full Truck Alliance Profile

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.