Blue Creek Capital Management Ltd Has $20.13 Million Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Blue Creek Capital Management Ltd has reduced its stake in Full Truck Alliance Co. Ltd. by 7.1%, yet it remains the firm's largest position, comprising 26.1% of its investment portfolio.
• Full Truck Alliance's stock is currently rated as a "Moderate Buy" with an average price target of $15.00, though JPMorgan Chase & Co. recently downgraded its rating and reduced the price objective from $18.00 to $10.00.
• The shares of Full Truck Alliance opened at $11.82 and have a 52-week range between a low of $6.66 and a high of $13.85, indicating some fluctuations in market performance.

Blue Creek Capital Management Ltd reduced its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,576,313 shares of the company's stock after selling 120,000 shares during the quarter. Full Truck Alliance makes up about 26.1% of Blue Creek Capital Management Ltd's holdings, making the stock its biggest holding. Blue Creek Capital Management Ltd owned about 0.15% of Full Truck Alliance worth $20,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Full Truck Alliance by 6.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after buying an additional 1,406 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of Full Truck Alliance during the 1st quarter valued at $315,000. Brilliance Asset Management Ltd. boosted its stake in Full Truck Alliance by 29.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,193,580 shares of the company's stock worth $45,375,000 after purchasing an additional 954,124 shares in the last quarter. Vanguard Group Inc. boosted its stake in Full Truck Alliance by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after purchasing an additional 295,301 shares in the last quarter. Finally, Softbank Group CORP. boosted its stake in Full Truck Alliance by 279.9% in the 4th quarter. Softbank Group CORP. now owns 4,220,001 shares of the company's stock worth $45,660,000 after purchasing an additional 3,109,250 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

YMM has been the topic of a number of analyst reports. Citigroup dropped their price target 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. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. Two research 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 stock. According to data from MarketBeat, Full Truck Alliance currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Up 5.0%

YMM traded up $0.58 during midday trading on Tuesday, hitting $12.09. 6,827,568 shares of the company traded hands, compared to its average volume of 8,280,496. The firm has a market capitalization of $12.64 billion, a PE ratio of 24.15 and a beta of 0.20. The company's 50-day moving average is $12.04 and its 200 day moving average is $11.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $6.66 and a 52 week high of $13.85.

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.