ABS Direct Equity Fund LLC Has $1.29 Million Stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

ABS Direct Equity Fund LLC cut its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 73.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,000 shares of the company's stock after selling 272,700 shares during the period. Full Truck Alliance comprises about 1.7% of ABS Direct Equity Fund LLC's portfolio, making the stock its 20th biggest position. ABS Direct Equity Fund LLC's holdings in Full Truck Alliance were worth $1,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Full Truck Alliance in the fourth quarter valued at $64,000. Townsquare Capital LLC acquired a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $111,000. Wolverine Trading LLC acquired a new position in Full Truck Alliance during the fourth quarter worth $115,000. Vise Technologies Inc. purchased a new stake in shares of Full Truck Alliance in the 4th quarter worth about $130,000. Finally, Truist Financial Corp acquired a new stake in shares of Full Truck Alliance in the fourth quarter valued at approximately $143,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

Shares of YMM stock traded down $0.23 during trading on Wednesday, hitting $11.72. 2,261,724 shares of the company were exchanged, compared to its average volume of 8,758,493. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $6.66 and a twelve month high of $13.85. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 23.43 and a beta of 0.20. The business's 50-day simple moving average is $11.54 and its 200 day simple moving average is $11.66.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup dropped 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. HSBC assumed coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective on the stock. Barclays raised their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a report on Thursday, March 6th. Two investment 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's stock. According to data from MarketBeat.com, Full Truck Alliance currently has a consensus rating of "Moderate Buy" and a consensus 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.