ABS Direct Equity Fund LLC Invests $1.64 Million in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• ABS Direct Equity Fund LLC initiated a $1.64 million position in Full Truck Alliance, purchasing 202,072 shares during the second quarter. Institutional and hedge-fund investors collectively own 39.02% of the company.
• Full Truck Alliance shares opened at $8.12, down 2.2%, and remain well below their 12-month high of $14.07. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $11.30.
• The company exceeded quarterly expectations with $0.20 in earnings per share and $497.73 million in revenue, while declaring a quarterly dividend of $0.084 per share, equivalent to a 4.1% annualized yield.

ABS Direct Equity Fund LLC purchased a new stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 202,072 shares of the company's stock, valued at approximately $1,641,000. Full Truck Alliance makes up approximately 1.4% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 24th biggest position.

Several other institutional investors also recently modified their holdings of YMM. Royal Bank of Canada grew its stake in shares of Full Truck Alliance by 172.4% during the 1st quarter. Royal Bank of Canada now owns 34,765 shares of the company's stock valued at $444,000 after purchasing an additional 22,001 shares during the period. Geode Capital Management LLC grew its position in Full Truck Alliance by 11.6% during the second quarter. Geode Capital Management LLC now owns 159,770 shares of the company's stock valued at $1,887,000 after buying an additional 16,591 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Full Truck Alliance by 274.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company's stock valued at $46,000 after buying an additional 2,845 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Full Truck Alliance by 7.9% in the 2nd quarter. California Public Employees Retirement System now owns 1,134,627 shares of the company's stock worth $13,400,000 after purchasing an additional 83,434 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Full Truck Alliance in the 2nd quarter worth $118,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Stock Down 2.2%

Shares of Full Truck Alliance stock opened at $8.12 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.45 and a twelve month high of $14.07. The business has a 50-day moving average price of $8.93 and a 200-day moving average price of $8.71. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.71 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The company had revenue of $497.73 million for the quarter, compared to the consensus estimate of $463.13 million. Full Truck Alliance had a return on equity of 10.68% and a net margin of 33.07%. On average, equities analysts expect that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.71 EPS for the current fiscal year.

Full Truck Alliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be issued a dividend of $0.084 per share. This represents a $0.34 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 14th. Full Truck Alliance's dividend payout ratio is 54.24%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on YMM. UBS Group reiterated a "buy" rating and set a $13.36 target price on shares of Full Truck Alliance in a research report on Wednesday, August 5th. Nomura set a $11.00 price target on Full Truck Alliance in a research report on Monday, June 15th. Weiss Ratings raised Full Truck Alliance from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Full Truck Alliance from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $8.60 to $10.00 in a research report on Monday, June 29th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.30.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., also known as Manbang Group, operates a digital freight platform in China. Through its mobile applications and online services, the company connects shippers seeking transportation with truckers and logistics service providers, helping facilitate the movement of cargo by road.

The company's platform supports freight listing and matching, allowing shippers to post transportation requirements and truckers to identify available loads. Full Truck Alliance also provides services intended to support freight transactions and logistics operations, including online information, communication, and related technology tools for participants in the road transportation market.

Full Truck Alliance was formed in 2017 through the combination of Yunmanman and Huochebang, two Chinese freight-information platforms.

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