Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Purchased by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 1,541.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 915,700 shares of the company's stock after acquiring an additional 859,901 shares during the period. Burgundy Asset Management Ltd. owned about 0.09% of Full Truck Alliance worth $9,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in YMM. FIL Ltd grew its holdings in Full Truck Alliance by 83.0% during the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company's stock valued at $559,725,000 after buying an additional 23,468,794 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in Full Truck Alliance in the 4th quarter worth about $164,557,000. JPMorgan Chase & Co. grew its position in Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock valued at $409,811,000 after acquiring an additional 10,383,716 shares during the last quarter. Norges Bank bought a new stake in Full Truck Alliance during the 4th quarter valued at about $101,649,000. Finally, Empower Harvest Management Services Inc. bought a new position in Full Truck Alliance in the fourth quarter worth approximately $97,058,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Wall Street Analyst Weigh In

YMM has been the topic of a number of recent analyst reports. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Citigroup lowered their target price on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Barclays lifted their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. HSBC started coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Up 3.4%

YMM stock traded up $0.40 during midday trading on Wednesday, hitting $12.18. The company's stock had a trading volume of 5,246,120 shares, compared to its average volume of 9,026,338. Full Truck Alliance Co. Ltd. has a 52-week low of $6.66 and a 52-week high of $13.85. The firm has a 50-day simple moving average of $11.57 and a 200-day simple moving average of $11.36. The firm has a market capitalization of $12.73 billion, a P/E ratio of 28.98 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were issued a dividend of $0.1444 per share. The ex-dividend date was Monday, April 7th. This represents a yield of 0.9%. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio (DPR) is presently 32.00%.

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.