Ameriprise Financial Inc. Purchases 216,818 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Ameriprise Financial Inc. raised its holdings in Full Truck Alliance Co. Ltd. by 5.7%, owning approximately 4,021,285 shares valued at $51.35 million after purchasing an additional 216,818 shares in the first quarter.
• Citigroup has lowered its price target for Full Truck Alliance from $16.50 to $16.00 while maintaining a "buy" rating, with an average consensus price target of $15.00.
• The company announced an annual dividend of $0.096, representing a yield of 60%, which will be paid to investors of record on October 13th.

Ameriprise Financial Inc. raised its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,021,285 shares of the company's stock after buying an additional 216,818 shares during the period. Ameriprise Financial Inc. owned about 0.38% of Full Truck Alliance worth $51,352,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new position in shares of Full Truck Alliance in the 1st quarter worth $29,000. Brooklyn Investment Group boosted its stake in shares of Full Truck Alliance by 495.4% in the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock valued at $31,000 after purchasing an additional 2,046 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Full Truck Alliance in the 1st quarter valued at $40,000. Summit Securities Group LLC boosted its stake in shares of Full Truck Alliance by 1,466.6% in the 1st quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock valued at $64,000 after purchasing an additional 4,693 shares in the last quarter. Finally, Wolverine Trading LLC purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at $115,000. Institutional investors own 39.02% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their price target 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Trading Up 1.2%

YMM traded up $0.15 during midday trading on Tuesday, reaching $13.20. The company's stock had a trading volume of 15,594,501 shares, compared to its average volume of 12,231,745. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $7.00 and a 1 year high of $13.85. The stock's 50-day moving average is $11.97 and its 200-day moving average is $11.94. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 23.58 and a beta of 0.21.

Full Truck Alliance Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be issued a $0.096 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 60.0%. Full Truck Alliance's dividend payout ratio (DPR) is presently 28.57%.

About Full Truck Alliance

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.