Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Full Truck Alliance, with six buy ratings and three holds. The average 12-month price target is $11.30, above the stock’s reported $8.21 price.
• The company beat quarterly expectations, reporting $0.20 in earnings per share versus the $0.19 consensus and revenue of $497.73 million compared with estimates of $463.13 million.
• Full Truck Alliance announced a quarterly dividend of $0.084 per share, equivalent to approximately $0.34 annually and a 4.1% yield; institutional investors and hedge funds own 39.02% of the stock.

Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.30.

Several research analysts have recently weighed in on the stock. UBS Group reissued a "buy" rating and set a $13.36 price target on shares of Full Truck Alliance in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Weiss Ratings lowered shares of Full Truck Alliance from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. Finally, Nomura set a $11.00 price target on shares of Full Truck Alliance in a research note on Monday, June 15th.

Full Truck Alliance Stock Performance

NYSE:YMM opened at $8.21 on Tuesday. Full Truck Alliance has a one year low of $7.45 and a one year high of $14.07. The stock has a market cap of $8.55 billion, a PE ratio of 13.91, a P/E/G ratio of 0.70 and a beta of 0.23. The stock has a 50 day moving average price of $8.79 and a 200 day moving average price of $8.61.

Full Truck Alliance (NYSE:YMM - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Full Truck Alliance had a return on equity of 10.68% and a net margin of 33.07%.The company had revenue of $497.73 million for the quarter, compared to analyst estimates of $463.13 million. As a group, analysts predict that Full Truck Alliance will post 0.71 earnings per share for the current fiscal year.

Full Truck Alliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 14th will be given a $0.0840 dividend. This represents a $0.34 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, October 14th. Full Truck Alliance's dividend payout ratio is presently 54.24%.

Hedge Funds Weigh In On Full Truck Alliance

Several large investors have recently modified their holdings of YMM. QRG Capital Management Inc. grew its holdings in shares of Full Truck Alliance by 61.1% during the 2nd quarter. QRG Capital Management Inc. now owns 21,039 shares of the company's stock worth $171,000 after purchasing an additional 7,976 shares during the period. ABS Direct Equity Fund LLC acquired a new position in Full Truck Alliance in the second quarter valued at about $1,641,000. Tidal Investments LLC lifted its position in Full Truck Alliance by 55.1% in the second quarter. Tidal Investments LLC now owns 770,588 shares of the company's stock valued at $6,257,000 after buying an additional 273,851 shares during the last quarter. National Pension Service purchased a new position in Full Truck Alliance during the second quarter worth about $1,709,000. Finally, C WorldWide Group Holding A S boosted its stake in Full Truck Alliance by 0.8% during the second quarter. C WorldWide Group Holding A S now owns 1,153,400 shares of the company's stock worth $9,366,000 after buying an additional 9,100 shares during the period. Institutional investors and hedge funds own 39.02% of the company's stock.

About Full Truck Alliance

Full Truck Alliance Co Ltd., also known as Manbang Group, operates a digital freight platform in China. Through its mobile applications and online services, the company connects shippers seeking transportation with truckers and logistics service providers, helping facilitate the movement of cargo by road.

The company's platform supports freight listing and matching, allowing shippers to post transportation requirements and truckers to identify available loads. Full Truck Alliance also provides services intended to support freight transactions and logistics operations, including online information, communication, and related technology tools for participants in the road transportation market.

Full Truck Alliance was formed in 2017 through the combination of Yunmanman and Huochebang, two Chinese freight-information platforms.

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