Cubist Systematic Strategies LLC acquired a new position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 690,426 shares of the company's stock, valued at approximately $8,817,000. Cubist Systematic Strategies LLC owned about 0.07% of Full Truck Alliance as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Full Truck Alliance by 6.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock worth $311,000 after purchasing an additional 1,406 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Full Truck Alliance by 1.9% in the first 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 during the last quarter. Brooklyn Investment Group raised its stake in shares of Full Truck Alliance by 495.4% in the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after purchasing an additional 2,046 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Full Truck Alliance in the first quarter worth about $29,000. Finally, US Bancorp DE purchased a new position in shares of Full Truck Alliance in the first quarter worth about $40,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.
Full Truck Alliance Trading Up 2.4%
Shares of YMM stock opened at $13.05 on Tuesday. The stock has a 50 day moving average of $11.95 and a 200 day moving average of $11.93. The stock has a market cap of $13.65 billion, a P/E ratio of 23.31 and a beta of 0.21. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.00 and a twelve month high of $13.85.
Full Truck Alliance Cuts Dividend
The business also recently declared an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be given a dividend of $0.096 per share. This represents a yield of 60.0%. The ex-dividend date is Friday, October 10th. Full Truck Alliance's dividend payout ratio (DPR) is currently 28.57%.
Analysts Set New Price Targets
Separately, Citigroup reduced their price objective on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.00.
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Full Truck Alliance Company Profile
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Free Report)
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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