Federated Hermes Inc. Buys 532,549 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Federated Hermes Inc. lifted its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 67.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,327,381 shares of the company's stock after buying an additional 532,549 shares during the quarter. Federated Hermes Inc. owned approximately 0.13% of Full Truck Alliance worth $14,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in shares of Full Truck Alliance in the 4th quarter worth approximately $537,000. Pinpoint Asset Management Ltd grew its stake in shares of Full Truck Alliance by 60.7% in the fourth quarter. Pinpoint Asset Management Ltd now owns 6,287,153 shares of the company's stock worth $68,027,000 after purchasing an additional 2,374,659 shares in the last quarter. Prudential PLC bought a new stake in shares of Full Truck Alliance during the fourth quarter valued at about $263,000. Arete Wealth Advisors LLC acquired a new position in Full Truck Alliance during the 4th quarter valued at about $300,000. Finally, Trexquant Investment LP raised its position in shares of Full Truck Alliance by 324.4% during the 4th quarter. Trexquant Investment LP now owns 399,891 shares of the company's stock worth $4,327,000 after buying an additional 305,672 shares in the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on YMM shares. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price target for the company from $18.00 to $10.00 in a report on Monday. Barclays lifted their target price on 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. Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. HSBC assumed coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $14.80.

Full Truck Alliance Price Performance

Shares of YMM traded up $0.45 during mid-day trading on Tuesday, hitting $10.31. 4,519,442 shares of the company's stock were exchanged, compared to its average volume of 9,248,810. The company has a 50-day simple moving average of $12.23 and a 200 day simple moving average of $10.87. The company has a market cap of $10.86 billion, a PE ratio of 24.54 and a beta of 0.19. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.1444 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a dividend yield of 0.9%. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio (DPR) is currently 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.