APG Asset Management N.V. Acquires New Holdings 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. bought a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 reporting period.

Several other hedge funds also recently modified their holdings of YMM. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Full Truck Alliance by 6.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after purchasing an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Full Truck Alliance by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock worth $1,087,000 after purchasing an additional 1,577 shares in the last quarter. Brooklyn Investment Group lifted its stake in Full Truck Alliance by 495.4% during the first 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 during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Full Truck Alliance during the first quarter worth approximately $29,000. Finally, US Bancorp DE acquired a new position in Full Truck Alliance in the first quarter worth approximately $40,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

Shares of YMM stock traded up $0.15 during trading on Friday, hitting $12.90. 3,099,318 shares of the company were exchanged, compared to its average volume of 9,089,656. The business's 50-day simple moving average is $11.90 and its 200 day simple moving average is $11.93. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.00 and a twelve month high of $13.85. The firm has a market capitalization of $13.49 billion, a price-to-earnings ratio of 23.03 and a beta of 0.20.

Full Truck Alliance Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, October 13th will be issued a dividend of $0.096 per share. This represents a dividend yield of 60.0%. The ex-dividend date is Friday, October 10th. Full Truck Alliance's payout ratio is currently 33.93%.

Wall Street Analyst Weigh In

Separately, Citigroup cut their price objective on 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 given a Hold rating to the company's stock. According to MarketBeat.com, Full Truck Alliance presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

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.