242,523 Shares in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH bought 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 bought 242,523 shares of the company's stock, valued at approximately $3,097,000.

A number of other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Full Truck Alliance by 6.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after purchasing an additional 1,406 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Full Truck Alliance by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock valued at $1,087,000 after purchasing an additional 1,577 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Full Truck Alliance by 20.3% in the fourth 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. LMR Partners LLP increased its stake in Full Truck Alliance by 25.4% in the fourth quarter. LMR Partners LLP now owns 27,881 shares of the company's stock valued at $302,000 after purchasing an additional 5,646 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of Full Truck Alliance by 39.2% in the first quarter. WCM Investment Management LLC now owns 27,035 shares of the company's stock valued at $349,000 after acquiring an additional 7,610 shares during the period. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Stock Down 7.8%

Shares of NYSE YMM traded down $0.90 during mid-day trading on Friday, hitting $10.65. 22,752,338 shares of the company were exchanged, compared to its average volume of 8,445,167. The stock has a 50 day simple moving average of $12.04 and a 200-day simple moving average of $11.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $6.66 and a 1-year high of $13.85. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 21.30 and a beta of 0.20.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price objective on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $10.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

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.