Burgundy Asset Management Ltd. Purchases 75,447 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Burgundy Asset Management Ltd. has increased its stake in Full Truck Alliance Co. Ltd. by 8.2%, owning approximately 0.09% of the company valued at $12.7 million.
• Citigroup has lowered its price target for Full Truck Alliance shares from $16.50 to $16.00, maintaining a "buy" rating on the stock.
• The stock has shown a 1-year price range between $6.85 and $13.85, with a current market cap of $11.55 billion.

Burgundy Asset Management Ltd. grew its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 991,147 shares of the company's stock after purchasing an additional 75,447 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.09% of Full Truck Alliance worth $12,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Full Truck Alliance by 3.1% in the first quarter. Invesco Ltd. now owns 30,965,571 shares of the company's stock valued at $395,430,000 after purchasing an additional 917,263 shares during the period. Vanguard Group Inc. boosted its position in shares of Full Truck Alliance by 1.5% in the first quarter. Vanguard Group Inc. now owns 29,373,877 shares of the company's stock valued at $375,104,000 after acquiring an additional 430,834 shares during the period. Krane Funds Advisors LLC boosted its position in shares of Full Truck Alliance by 23.2% in the first quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock valued at $334,665,000 after acquiring an additional 4,931,028 shares during the period. Aspex Management HK Ltd bought a new position in shares of Full Truck Alliance in the fourth quarter valued at approximately $164,557,000. Finally, Sylebra Capital LLC boosted its position in shares of Full Truck Alliance by 64.3% in the fourth quarter. Sylebra Capital LLC now owns 10,693,280 shares of the company's stock valued at $115,701,000 after acquiring an additional 4,184,065 shares during the period. Institutional investors own 39.02% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Full Truck Alliance has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Up 10.4%

Shares of YMM stock traded up $1.1450 during trading on Thursday, hitting $12.1550. The company had a trading volume of 31,590,148 shares, compared to its average volume of 8,941,087. The stock's 50-day moving average is $11.82 and its two-hundred day moving average is $11.90. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 24.31 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $6.85 and a 52 week high of $13.85.

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.