28,905 Shares in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Bought by Altfest L J & Co. Inc.

Key Points

• Altfest L J & Co. Inc. acquired 28,905 shares of Full Truck Alliance Co. Ltd. during the first quarter, marking their entry into the stock valued at approximately $369,000.
• JPMorgan Chase & Co. recently downgraded the stock from an "overweight" to a "neutral" rating, decreasing their price target from $18.00 to $10.00.
• Full Truck Alliance Co. Ltd. has a market capitalization of $12.16 billion and an average target price of $15.00 as per analysts' ratings.

Altfest L J & Co. Inc. purchased a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,905 shares of the company's stock, valued at approximately $369,000.

Several other hedge funds also recently added to or reduced their stakes in YMM. Aspex Management HK Ltd acquired a new position in shares of Full Truck Alliance in the fourth quarter worth about $164,557,000. Nuveen Asset Management LLC acquired a new position in shares of Full Truck Alliance during the 4th quarter worth about $60,356,000. Krane Funds Advisors LLC grew its stake in Full Truck Alliance by 23.2% during the 1st quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock valued at $334,665,000 after acquiring an additional 4,931,028 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Full Truck Alliance by 632.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,159,857 shares of the company's stock valued at $65,891,000 after acquiring an additional 4,454,913 shares in the last quarter. Finally, KEYWISE CAPITAL MANAGEMENT HK Ltd grew its stake in Full Truck Alliance by 25,877.9% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 4,234,400 shares of the company's stock valued at $45,816,000 after acquiring an additional 4,218,100 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Stock Performance

NYSE YMM traded down $0.29 during trading on Friday, reaching $11.34. 13,832,621 shares of the company's stock were exchanged, compared to its average volume of 13,231,091. The stock has a market cap of $11.86 billion, a P/E ratio of 22.68 and a beta of 0.20. The company has a 50 day moving average price of $11.98 and a two-hundred day moving average price of $11.92. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $6.85 and a 1 year high of $13.85.

Wall Street Analysts Forecast Growth

YMM has been the subject of several research reports. Citigroup dropped their target price on shares of 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. cut shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Company 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.