AIA Group Ltd Makes New $1.46 Million Investment in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• AIA Group Ltd has acquired a new stake in Full Truck Alliance Co. Ltd, purchasing 114,651 shares valued at approximately $1.464 million.
• A total of 39.02% of Full Truck Alliance's stock is currently owned by institutional investors and hedge funds, highlighting increased investor interest in the company.
• The company's stock has seen a trading decline of 0.5%, with a market cap of $11.79 billion and a current average price target of $15.00 from analysts.

AIA Group Ltd bought a new position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 114,651 shares of the company's stock, valued at approximately $1,464,000.

Other large investors have also added to or reduced their stakes in the company. Aspex Management HK Ltd acquired a new position in shares of Full Truck Alliance during the fourth quarter valued at about $164,557,000. Kontiki Capital Management HK Ltd. acquired a new position in shares of Full Truck Alliance during the first quarter valued at about $81,320,000. Nuveen Asset Management LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter valued at about $60,356,000. Krane Funds Advisors LLC increased its holdings in shares of Full Truck Alliance by 23.2% during the first 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. Finally, Nuveen LLC acquired a new position in shares of Full Truck Alliance during the first quarter valued at about $59,933,000. 39.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup cut their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Two research 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 stock. According to MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Performance

NYSE YMM traded down $0.52 during trading hours on Thursday, reaching $10.78. The stock had a trading volume of 11,825,315 shares, compared to its average volume of 8,774,886. The stock has a fifty day moving average of $11.95 and a 200 day moving average of $11.91. The stock has a market cap of $11.27 billion, a P/E ratio of 21.56 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $6.85 and a 52-week high of $13.85.

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.