Bank of America Corp DE Raises Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Bank of America increased its Full Truck Alliance (YMM) position by 57.7% in the first quarter, adding 920,948 shares to hold 2.52 million shares valued at approximately $20.9 million.
• Analysts maintain a generally positive outlook, with six Buy ratings and three Holds. The stock has a consensus rating of “Moderate Buy” and an average price target of $11.30.
• YMM opened at $8.77, near its 50-day and 200-day moving averages, with a market capitalization of roughly $9.14 billion and a 12-month trading range of $7.45 to $14.07.

Bank of America Corp DE lifted its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 57.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,515,788 shares of the company's stock after acquiring an additional 920,948 shares during the quarter. Bank of America Corp DE owned about 0.24% of Full Truck Alliance worth $20,881,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC acquired a new position in shares of Full Truck Alliance during the first quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its position in Full Truck Alliance by 150.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,937 shares of the company's stock worth $32,000 after acquiring an additional 1,762 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Full Truck Alliance in the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC boosted its holdings in Full Truck Alliance by 274.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company's stock worth $46,000 after acquiring an additional 2,845 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in Full Truck Alliance in the third quarter valued at approximately $51,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Full Truck Alliance from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Nomura set a $11.00 target price on shares of Full Truck Alliance in a research note on Monday, June 15th. UBS Group reaffirmed a "buy" rating and set a $13.36 price target on shares of Full Truck Alliance in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Finally, Bank of America started coverage on shares of Full Truck Alliance in a report on Tuesday, May 5th. They issued a "buy" rating and a $11.30 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Full Truck Alliance currently has a consensus rating of "Moderate Buy" and an average target price of $11.30.

Full Truck Alliance Price Performance

NYSE YMM opened at $8.77 on Wednesday. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12 month low of $7.45 and a 12 month high of $14.07. The company's fifty day moving average price is $8.75 and its two-hundred day moving average price is $8.85.

Full Truck Alliance Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were paid a $0.084 dividend. This represents a dividend yield of 201.0%. The ex-dividend date was Tuesday, July 7th. Full Truck Alliance's dividend payout ratio is 28.07%.

Full Truck Alliance Company Profile

Full Truck Alliance NYSE: YMM operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.

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