Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) is E Fund Management Co. Ltd.'s 6th Largest Position

Key Points

• E Fund Management Co. Ltd. reduced its stake in Full Truck Alliance by 16.4%, now holding approximately 4.05 million shares, which constitutes about 2.5% of its total portfolio.
• Shares of Full Truck Alliance opened at $11.37 with a one-year low of $6.85 and a high of $13.85, reflecting a market cap of approximately $11.89 billion.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with a target price set at $15.00, following a recent cut from Citigroup from $16.50 to $16.00.

E Fund Management Co. Ltd. reduced its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,048,671 shares of the company's stock after selling 796,446 shares during the quarter. Full Truck Alliance makes up 2.5% of E Fund Management Co. Ltd.'s investment portfolio, making the stock its 6th biggest holding. E Fund Management Co. Ltd. owned about 0.39% of Full Truck Alliance worth $51,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors Inc. acquired a new position in shares of Full Truck Alliance during the 1st quarter worth about $29,000. US Bancorp DE acquired a new position in shares of Full Truck Alliance during the 1st quarter worth about $40,000. Townsquare Capital LLC acquired a new stake in shares of Full Truck Alliance in the 4th quarter valued at about $111,000. Wolverine Trading LLC acquired a new stake in shares of Full Truck Alliance in the 4th quarter valued at about $115,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Full Truck Alliance in the 4th quarter valued at about $130,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Trading Down 4.6%

Shares of NYSE YMM traded down $0.52 during trading hours on Thursday, reaching $10.78. The stock had a trading volume of 11,825,315 shares, compared to its average volume of 13,337,434. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 21.56 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $6.85 and a fifty-two week high of $13.85. The firm has a 50-day moving average of $11.92 and a 200-day moving average of $11.91.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their target price on 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. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.00.

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.