Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Shares Purchased by Davis Selected Advisers

Key Points

• Davis Selected Advisers has increased its stake in Full Truck Alliance Co. Ltd. by 44.8%, now owning nearly 7.82 million shares worth approximately $99.85 million.
• Vanguard Group and Krane Funds Advisors also boosted their positions significantly, owning a combined total of over 55 million shares of Full Truck Alliance.
• Analyst ratings for Full Truck Alliance have varied, with a consensus rating of "Moderate Buy" and a target price of $15.00, despite some recent downgrades from firms like Citigroup and JPMorgan Chase.

Davis Selected Advisers boosted its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 44.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,819,344 shares of the company's stock after buying an additional 2,418,953 shares during the period. Davis Selected Advisers owned approximately 0.75% of Full Truck Alliance worth $99,853,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE purchased a new stake in shares of Full Truck Alliance during the first quarter valued at approximately $40,000. Townsquare Capital LLC purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $111,000. Wolverine Trading LLC purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $115,000. Vise Technologies Inc. purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $130,000. Finally, Jasper Ridge Partners L.P. purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective 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. 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 report on Monday, April 14th. Two 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Stock Performance

Shares of YMM stock traded up $0.14 during mid-day trading on Tuesday, reaching $11.40. 4,015,163 shares of the company were exchanged, compared to its average volume of 8,706,822. 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 company has a market capitalization of $11.92 billion, a P/E ratio of 22.81 and a beta of 0.20. The business's 50 day simple moving average is $11.97 and its 200 day simple moving average is $11.92.

Full Truck Alliance Company 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.