210,760 Shares in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC purchased 210,760 shares of Full Truck Alliance Co. Ltd. valued at approximately $2.69 million in the first quarter.
• Full Truck Alliance has a current market capitalization of $14.18 billion, with shares trading at $13.56 and a fifty-two week range of $7.20 to $13.85.
• Citigroup reduced its target price for the stock from $16.50 to $16.00, maintaining a "buy" rating, while the average rating from analysts remains a "Moderate Buy."

Acadian Asset Management LLC acquired a new stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 210,760 shares of the company's stock, valued at approximately $2,691,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nuveen Asset Management LLC bought a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $60,356,000. Squarepoint Ops LLC lifted its holdings in shares of Full Truck Alliance by 1.4% in the 4th quarter. Squarepoint Ops LLC now owns 1,140,374 shares of the company's stock worth $12,339,000 after buying an additional 15,800 shares during the period. Vident Advisory LLC increased its stake in shares of Full Truck Alliance by 27.2% during the fourth quarter. Vident Advisory LLC now owns 50,893 shares of the company's stock valued at $551,000 after buying an additional 10,885 shares during the period. Woodline Partners LP bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $10,974,000. Finally, Voloridge Investment Management LLC lifted its stake in Full Truck Alliance by 66.9% in the fourth quarter. Voloridge Investment Management LLC now owns 7,164,914 shares of the company's stock worth $77,524,000 after acquiring an additional 2,871,204 shares during the period. 39.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup cut their target price on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Performance

Shares of YMM opened at $13.56 on Tuesday. The business's 50-day moving average is $12.22 and its two-hundred day moving average is $12.02. The company has a market capitalization of $14.18 billion, a P/E ratio of 24.21 and a beta of 0.21. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $7.20 and a fifty-two week high of $13.85.

Full Truck Alliance Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, October 13th will be paid a dividend of $0.096 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 60.0%. Full Truck Alliance's dividend payout ratio (DPR) is presently 28.57%.

Full Truck Alliance Profile

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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