Federated Hermes Inc. Trims Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Federated Hermes Inc. has reduced its holdings in Full Truck Alliance Co. Ltd. by 7.8%, owning approximately 1.2 million shares worth $15.6 million after selling 103,940 shares.
• Several institutional investors, including FIL Ltd. and Vanguard Group Inc., have increased their positions in Full Truck Alliance, with FIL Ltd. growing its stake by 83% in the last quarter.
• Current analyst ratings for Full Truck Alliance include two hold ratings, two buy ratings, and one strong buy rating, with an average target price set at $15.00.

Federated Hermes Inc. decreased its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,223,441 shares of the company's stock after selling 103,940 shares during the period. Federated Hermes Inc. owned about 0.12% of Full Truck Alliance worth $15,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $311,000 after acquiring an additional 1,406 shares during the last quarter. Bank of New York Mellon Corp increased its stake in 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 valued at $1,087,000 after acquiring an additional 1,577 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Full Truck Alliance by 20.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after acquiring an additional 3,442 shares during the last quarter. LMR Partners LLP increased its stake in Full Truck Alliance by 25.4% in the fourth quarter. LMR Partners LLP now owns 27,881 shares of the company's stock valued at $302,000 after acquiring an additional 5,646 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in Full Truck Alliance by 39.2% in the first quarter. WCM Investment Management LLC now owns 27,035 shares of the company's stock worth $349,000 after buying an additional 7,610 shares in the last quarter. Hedge funds and other institutional investors own 39.02% of the company's stock.

Analyst Upgrades and Downgrades

YMM has been the subject of a number of research reports. Citigroup cut 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 note on Thursday, May 22nd. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price target for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Price Performance

YMM traded up $0.36 during trading on Monday, hitting $11.02. 41,325,154 shares of the stock traded hands, compared to its average volume of 11,066,812. The firm has a market capitalization of $11.52 billion, a P/E ratio of 18.70 and a beta of 0.20. The firm has a 50-day moving average of $12.03 and a 200 day moving average of $11.92. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $6.66 and a 12-month 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.