QRG Capital Management Inc. acquired a new position in 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 24,702 shares of the company's stock, valued at approximately $315,000.
Several other institutional investors also recently modified their holdings of the company. FIL Ltd boosted its stake in Full Truck Alliance by 83.0% during the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company's stock worth $559,725,000 after buying an additional 23,468,794 shares in the last quarter. Aspex Management HK Ltd bought a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $164,557,000. JPMorgan Chase & Co. boosted its stake in Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock valued at $409,811,000 after buying an additional 10,383,716 shares in the last quarter. Norges Bank bought a new stake in Full Truck Alliance in the fourth quarter valued at $101,649,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Full Truck Alliance during the 4th quarter worth about $60,356,000. Institutional investors and hedge funds own 39.02% of the company's stock.
Full Truck Alliance Stock Up 1.7%
Shares of YMM stock opened at $11.86 on Tuesday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $6.66 and a 12-month high of $13.85. The firm has a fifty day moving average of $11.68 and a 200-day moving average of $11.71. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 23.71 and a beta of 0.20.
Wall Street Analysts Forecast Growth
YMM has been the topic of several research reports. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. HSBC initiated coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price objective for the company. Citigroup reduced 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 note on Thursday, May 22nd. Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Barclays upped their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance has a consensus rating of "Moderate Buy" and an average target price of $15.00.
Check Out Our Latest Report on YMM
Full Truck Alliance Profile
(
Free Report)
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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