Caxton Associates LLP Acquires Shares of 80,903 Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Caxton Associates LLP acquired 80,903 shares of Full Truck Alliance Co. Ltd., valued at approximately $1,033,000, in the first quarter.
• Institutional ownership of Full Truck Alliance is at 39.02%, with significant increases from firms like Goldman Sachs and KADENSA CAPITAL.
• Citigroup recently lowered their price target for Full Truck Alliance shares from $16.50 to $16.00, while maintaining a "buy" rating on the stock.

Caxton Associates LLP acquired a new stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 80,903 shares of the company's stock, valued at approximately $1,033,000.

Several other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in Full Truck Alliance by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 10,761,409 shares of the company's stock valued at $137,423,000 after purchasing an additional 935,344 shares during the last quarter. KADENSA CAPITAL Ltd lifted its position in Full Truck Alliance by 185.0% during the first quarter. KADENSA CAPITAL Ltd now owns 1,288,269 shares of the company's stock valued at $16,451,000 after purchasing an additional 836,189 shares during the last quarter. Royal Bank of Canada lifted its position in Full Truck Alliance by 172.4% during the first quarter. Royal Bank of Canada now owns 34,765 shares of the company's stock valued at $444,000 after purchasing an additional 22,001 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Full Truck Alliance during the first quarter valued at $8,817,000. Finally, The Manufacturers Life Insurance Company lifted its position in Full Truck Alliance by 25.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,498,085 shares of the company's stock valued at $19,131,000 after purchasing an additional 302,381 shares during the last quarter. Institutional investors own 39.02% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price objective on shares of 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 assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Trading Up 0.4%

Shares of YMM opened at $13.39 on Thursday. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.07 and a twelve month high of $13.85. The company has a market cap of $14.00 billion, a P/E ratio of 23.90 and a beta of 0.21. The company's fifty day simple moving average is $12.13 and its 200-day simple moving average is $11.97.

Full Truck Alliance Cuts Dividend

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

Full Truck Alliance Company 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.

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