Acadian Asset Management LLC Takes Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

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 purchased a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 210,760 shares of the company's stock, valued at approximately $2,691,000.

A number of other large investors have also modified their holdings of YMM. Kontiki Capital Management HK Ltd. purchased a new position in shares of Full Truck Alliance during the first quarter worth about $81,320,000. Nuveen Asset Management LLC purchased a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $60,356,000. Krane Funds Advisors LLC grew its stake in Full Truck Alliance by 23.2% in the 1st quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock worth $334,665,000 after acquiring an additional 4,931,028 shares during the period. APG Asset Management N.V. purchased a new stake in Full Truck Alliance in the 1st quarter worth approximately $56,253,000. Finally, Nuveen LLC purchased a new stake in Full Truck Alliance in the 1st quarter worth approximately $59,933,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

Shares of NYSE:YMM traded down $0.18 during midday trading on Friday, hitting $13.59. 5,280,613 shares of the company's stock traded hands, compared to its average volume of 10,247,047. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.44 and a twelve month high of $14.02. The company has a market cap of $14.21 billion, a PE ratio of 24.27 and a beta of 0.21. The firm's fifty day moving average price is $12.31 and its two-hundred day moving average price is $12.07.

Full Truck Alliance Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, October 13th will be paid a $0.096 dividend. This represents a dividend yield of 60.0%. The ex-dividend date of this dividend is Friday, October 10th. Full Truck Alliance's dividend payout ratio is currently 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.