Alberta Investment Management Corp Acquires 292,244 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Alberta Investment Management Corp increased its stake in Full Truck Alliance by 14.0%, acquiring an additional 292,244 shares to hold a total of 2,381,411 shares valued at approximately $30.41 million.
• Analysts have downgraded Full Truck Alliance's stock rating, with JPMorgan Chase cutting the target price from $18.00 to $10.00, while Citigroup slightly reduced their price objective to $16.00.
• Currently, the stock has a market cap of $12.07 billion and is rated as a "Moderate Buy" with a consensus price target of $15.00.

Alberta Investment Management Corp lifted its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 14.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,381,411 shares of the company's stock after acquiring an additional 292,244 shares during the period. Alberta Investment Management Corp owned approximately 0.23% of Full Truck Alliance worth $30,411,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE acquired a new position in shares of Full Truck Alliance during the 1st quarter worth approximately $40,000. Townsquare Capital LLC acquired a new stake in Full Truck Alliance during the fourth quarter worth approximately $111,000. Wolverine Trading LLC acquired a new stake in Full Truck Alliance during the fourth quarter worth approximately $115,000. Vise Technologies Inc. bought a new position in Full Truck Alliance during the 4th quarter worth $130,000. Finally, Jasper Ridge Partners L.P. acquired a new position in Full Truck Alliance in the 4th quarter valued at $149,000. 39.02% of the stock is owned by institutional investors.

Full Truck Alliance Price Performance

Shares of YMM opened at $11.54 on Friday. The firm has a 50 day simple moving average of $12.04 and a two-hundred day simple moving average of $11.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.66 and a one year high of $13.85. The company has a market cap of $12.07 billion, a P/E ratio of 23.09 and a beta of 0.20.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their target price for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Citigroup cut their price objective 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. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Full Truck Alliance currently has an average rating of "Moderate Buy" and a consensus price target 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.

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