Full Truck Alliance Co. Ltd. Sponsored ADR $YMM Holdings Raised by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly increased its holdings in Full Truck Alliance Co. Ltd. by 804.3%, acquiring 182,611 shares in the first quarter, bringing its total to 205,316 shares valued at $2.62 million.
• Several hedge funds have also adjusted their positions, with Mirae Asset Global Investments growing its stake by 6.2% and Bank of New York Mellon Corp by 1.9% during the same quarter.
• Despite a drop in the target price from Citigroup from $16.50 to $16.00, Full Truck Alliance currently holds a consensus rating of "Moderate Buy" with a target price of $15.00.

Aberdeen Group plc increased its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 804.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,316 shares of the company's stock after acquiring an additional 182,611 shares during the period. Aberdeen Group plc's holdings in Full Truck Alliance were worth $2,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new position in shares of Full Truck Alliance in the first quarter valued at approximately $29,000. US Bancorp DE bought a new stake in Full Truck Alliance during the first quarter worth approximately $40,000. Townsquare Capital LLC bought a new stake in Full Truck Alliance during the fourth quarter worth approximately $111,000. Wolverine Trading LLC bought a new stake in Full Truck Alliance during the fourth quarter worth approximately $115,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Full Truck Alliance by 12,795.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock worth $142,000 after acquiring an additional 11,004 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors.

Full Truck Alliance Price Performance

Full Truck Alliance stock traded up $0.6350 during midday trading on Friday, reaching $12.7250. The stock had a trading volume of 28,819,335 shares, compared to its average volume of 14,625,368. The firm's fifty day simple moving average is $11.83 and its two-hundred day simple moving average is $11.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $6.85 and a twelve month high of $13.85. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 20.53 and a beta of 0.20.

Full Truck Alliance Cuts Dividend

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

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.