Davis Selected Advisers Buys 2,418,953 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

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 grew its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 44.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,819,344 shares of the company's stock after purchasing an additional 2,418,953 shares during the quarter. Davis Selected Advisers owned approximately 0.75% of Full Truck Alliance worth $99,853,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in YMM. 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 bought a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $111,000. Wolverine Trading LLC bought a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $115,000. Vise Technologies Inc. bought a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $130,000. Finally, Jasper Ridge Partners L.P. bought a new position 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.

Full Truck Alliance Trading Down 2.5%

YMM traded down $0.29 during trading on Friday, reaching $11.34. The stock had a trading volume of 13,832,621 shares, compared to its average volume of 13,231,091. The stock's 50 day moving average is $11.98 and its two-hundred day moving average is $11.92. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 22.68 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.85 and a one year high of $13.85.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. 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 report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $18.00 to $10.00 in a report on Monday, April 14th. Two 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

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.