Alps Advisors Inc. Makes New $1.76 Million Investment in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Alps Advisors Inc. bought a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 138,100 shares of the company's stock, valued at approximately $1,764,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LBP AM SA acquired a new position in Full Truck Alliance during the first quarter worth approximately $4,214,000. China Universal Asset Management Co. Ltd. increased its position in Full Truck Alliance by 3.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 366,500 shares of the company's stock worth $4,680,000 after buying an additional 13,500 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Full Truck Alliance by 62.1% during the first quarter. Envestnet Asset Management Inc. now owns 80,491 shares of the company's stock worth $1,028,000 after buying an additional 30,845 shares during the last quarter. Bank of New York Mellon Corp increased its position in Full Truck Alliance by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock worth $1,087,000 after buying an additional 1,577 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new position in Full Truck Alliance during the first quarter worth approximately $840,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

Shares of YMM stock traded down $0.73 during trading on Wednesday, hitting $12.59. The company had a trading volume of 17,461,671 shares, compared to its average volume of 8,702,741. The firm has a market capitalization of $13.16 billion, a P/E ratio of 25.17 and a beta of 0.20. The stock's 50-day moving average price is $12.08 and its 200 day moving average price is $11.82. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.66 and a one year high of $13.85.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on YMM shares. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Citigroup reduced 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. Two analysts have rated the stock with a hold rating, two have issued 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 has an average 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.