Bank of America Corp DE decreased its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,761,070 shares of the company's stock after selling 681,861 shares during the quarter. Bank of America Corp DE owned about 0.64% of Full Truck Alliance worth $73,155,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Full Truck Alliance by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,722 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Full Truck Alliance by 20.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after purchasing an additional 3,442 shares during the last quarter. abrdn plc raised its position 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 purchasing an additional 4,187 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance in the 4th quarter valued at $64,000. Finally, Townsquare Capital LLC purchased a new stake in Full Truck Alliance in the 4th quarter valued at $111,000. Hedge funds and other institutional investors own 39.02% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on YMM shares. HSBC started coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price objective for the company. Barclays upped their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a research report on Thursday, March 6th. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Full Truck Alliance currently has an average rating of "Moderate Buy" and an average price target of $14.80.
Check Out Our Latest Analysis on YMM
Full Truck Alliance Trading Down 1.2%
Shares of YMM traded down $0.15 during trading hours on Friday, reaching $12.34. The company had a trading volume of 4,056,139 shares, compared to its average volume of 9,150,905. The firm has a 50 day simple moving average of $11.79 and a 200-day simple moving average of $11.24. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 29.37 and a beta of 0.20. 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 firm also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Investors of record on Monday, April 7th were paid a $0.1444 dividend. This represents a yield of 0.9%. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date of this dividend was Monday, April 7th. Full Truck Alliance's dividend payout ratio is presently 39.02%.
About Full Truck Alliance
(
Free Report)
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.
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