Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) is Matthews International Capital Management LLC's 3rd Largest Position

Matthews International Capital Management LLC increased its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,573,575 shares of the company's stock after purchasing an additional 284,533 shares during the quarter. Full Truck Alliance makes up approximately 9.4% of Matthews International Capital Management LLC's portfolio, making the stock its 3rd biggest holding. Matthews International Capital Management LLC owned 0.34% of Full Truck Alliance worth $45,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of YMM. SBI Securities Co. Ltd. purchased a new position in Full Truck Alliance in the 4th quarter valued at approximately $64,000. Townsquare Capital LLC purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at $111,000. Wolverine Trading LLC purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at $115,000. Vise Technologies Inc. purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at $130,000. Finally, Truist Financial Corp purchased a new position in Full Truck Alliance in the fourth quarter worth $143,000. Institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

Shares of NYSE:YMM traded down $0.08 during trading on Friday, reaching $11.65. 6,071,690 shares of the stock traded hands, compared to its average volume of 8,790,543. The stock has a 50-day moving average of $11.64 and a two-hundred day moving average of $11.69. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $6.66 and a 52-week high of $13.85. The stock has a market cap of $12.18 billion, a P/E ratio of 23.29 and a beta of 0.20.

Wall Street Analysts Forecast Growth

YMM has been the subject of several research reports. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays upped their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. HSBC initiated coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. Finally, Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

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.