Aberdeen Group plc Grows Holdings in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

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 boosted its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 804.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 205,316 shares of the company's stock after buying an additional 182,611 shares during the quarter. Aberdeen Group plc's holdings in Full Truck Alliance were worth $2,622,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Atlas Capital Advisors Inc. purchased a new position in Full Truck Alliance in the 1st quarter worth about $29,000. US Bancorp DE purchased a new position in Full Truck Alliance in the 1st quarter worth about $40,000. Townsquare Capital LLC purchased a new position in Full Truck Alliance in the 4th quarter worth about $111,000. Wolverine Trading LLC purchased a new position in Full Truck Alliance in the 4th quarter worth about $115,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Full Truck Alliance during the 4th quarter valued at about $130,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Analyst Ratings Changes

Separately, Citigroup reduced their price target on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Stock Performance

Shares of NYSE YMM traded down $0.24 during midday trading on Wednesday, hitting $12.70. 10,805,978 shares of the company's stock traded hands, compared to its average volume of 14,652,867. The firm has a fifty day moving average of $11.88 and a 200 day moving average of $11.93. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 22.68 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $6.85 and a 1 year high of $13.85.

Full Truck Alliance Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be issued a $0.096 dividend. This represents a 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.