APG Asset Management N.V. Takes Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• APG Asset Management N.V. acquired a new stake in Full Truck Alliance Co. Ltd., purchasing 4,758,400 shares valued at approximately $56.25 million, representing 0.45% ownership.
• Full Truck Alliance announced an annual dividend of $0.096, which will yield around 60%, with an ex-dividend date set for October 10th.
• Analysts have a consensus rating of "Moderate Buy" for Full Truck Alliance, with Citigroup recently lowering their price target from $16.50 to $16.00.

APG Asset Management N.V. acquired a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,758,400 shares of the company's stock, valued at approximately $56,253,000. APG Asset Management N.V. owned approximately 0.45% of Full Truck Alliance at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new stake in shares of Full Truck Alliance in the first quarter valued at $29,000. Brooklyn Investment Group grew its holdings in Full Truck Alliance by 495.4% during the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after acquiring an additional 2,046 shares in the last quarter. US Bancorp DE acquired a new position in Full Truck Alliance during the 1st quarter worth approximately $40,000. Summit Securities Group LLC grew its holdings in Full Truck Alliance by 1,466.6% during the 1st quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock worth $64,000 after acquiring an additional 4,693 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new position in Full Truck Alliance during the 4th quarter worth approximately $115,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

Shares of NYSE YMM opened at $12.7250 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $6.85 and a fifty-two week high of $13.85. The firm has a market capitalization of $13.31 billion, a PE ratio of 22.72 and a beta of 0.20. The stock's 50-day simple moving average is $11.83 and its 200-day simple moving average is $11.91.

Full Truck Alliance Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, October 13th will be paid a $0.096 dividend. This represents a yield of 60.0%. The ex-dividend date is Friday, October 10th. Full Truck Alliance's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

Separately, Citigroup lowered 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 report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

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.

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