Full Truck Alliance Co. Ltd. Sponsored ADR $YMM is Pinpoint Asset Management Singapore Pte. Ltd.'s 3rd Largest Position

Key Points

• Pinpoint Asset Management Singapore cut its stake in Full Truck Alliance by 43.1% in Q3 to 4,066,939 shares, leaving the position as its third-largest (about 9.7% of the firm's portfolio) worth roughly $52.75 million and representing ~0.39% of the company.
• YMM is trading near the low end of its 52-week range (opened at $9.00; 52-week range $8.75–$14.07) with a market cap of about $9.41 billion and a P/E of 16.98.
• Analysts are mixed: the consensus rating is "Hold" with an average price target of $11.83, while individual targets and ratings range from underweight/$8 to buy/$14 after several recent downgrades and target cuts.

Pinpoint Asset Management Singapore Pte. Ltd. cut its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 43.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,066,939 shares of the company's stock after selling 3,081,920 shares during the period. Full Truck Alliance comprises approximately 9.7% of Pinpoint Asset Management Singapore Pte. Ltd.'s investment portfolio, making the stock its 3rd biggest holding. Pinpoint Asset Management Singapore Pte. Ltd. owned approximately 0.39% of Full Truck Alliance worth $52,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Full Truck Alliance by 274.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company's stock valued at $46,000 after buying an additional 2,845 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Full Truck Alliance in the second quarter worth about $111,000. Daiwa Securities Group Inc. acquired a new stake in Full Truck Alliance during the second quarter worth about $118,000. Oppenheimer Asset Management Inc. purchased a new position in Full Truck Alliance during the third quarter valued at approximately $142,000. Finally, CI Investments Inc. lifted its holdings in Full Truck Alliance by 10.7% in the third quarter. CI Investments Inc. now owns 10,924 shares of the company's stock valued at $142,000 after acquiring an additional 1,052 shares during the period. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Up 0.7%

YMM stock opened at $9.00 on Monday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $8.75 and a 52 week high of $14.07. The firm has a 50-day simple moving average of $9.96 and a 200-day simple moving average of $11.53. The stock has a market capitalization of $9.41 billion, a P/E ratio of 16.98 and a beta of 0.23.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on YMM shares. Weiss Ratings cut shares of Full Truck Alliance from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, January 13th. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a report on Monday, November 17th. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $11.00 to $8.00 in a research report on Monday, January 12th. Barclays cut their price objective on shares of Full Truck Alliance from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Wednesday, November 19th. Finally, iA Financial set a $8.00 target price on shares of Full Truck Alliance in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.83.

Full Truck Alliance Company Profile

Full Truck Alliance NYSE: YMM operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.

Want to see what other hedge funds are holding YMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.