Full Truck Alliance Co. Ltd. Sponsored ADR $YMM Shares Sold by First Beijing Investment Ltd

Key Points

• First Beijing Investment Ltd reduced its holdings in Full Truck Alliance by 4.8% in Q1, now owning approximately 29.7 million shares valued at $379.7 million.
• Citigroup has lowered its price target on Full Truck Alliance to $16.00, while the stock has an average price target of $15.00 and a consensus rating of "Moderate Buy."
• Full Truck Alliance will pay an annual dividend of $0.096 on October 27, representing a significant yield of 60.0%.

First Beijing Investment Ltd cut its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,736,802 shares of the company's stock after selling 1,504,746 shares during the quarter. Full Truck Alliance comprises 26.1% of First Beijing Investment Ltd's holdings, making the stock its 2nd biggest position. First Beijing Investment Ltd owned approximately 2.84% of Full Truck Alliance worth $379,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caxton Associates LLP acquired a new position in shares of Full Truck Alliance in the 1st quarter valued at approximately $1,033,000. Goldman Sachs Group Inc. boosted its position in Full Truck Alliance by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,761,409 shares of the company's stock worth $137,423,000 after acquiring an additional 935,344 shares during the last quarter. KADENSA CAPITAL Ltd boosted its position in Full Truck Alliance by 185.0% during the 1st quarter. KADENSA CAPITAL Ltd now owns 1,288,269 shares of the company's stock worth $16,451,000 after acquiring an additional 836,189 shares during the last quarter. Royal Bank of Canada boosted its position in Full Truck Alliance by 172.4% during the 1st quarter. Royal Bank of Canada now owns 34,765 shares of the company's stock worth $444,000 after acquiring an additional 22,001 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Full Truck Alliance during the 1st quarter worth approximately $8,817,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Down 0.0%

NYSE:YMM opened at $13.25 on Tuesday. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.06 and a twelve month high of $13.85. The business has a 50 day moving average price of $12.08 and a two-hundred day moving average price of $11.95. The company has a market cap of $13.85 billion, a P/E ratio of 23.65 and a beta of 0.21.

Full Truck Alliance Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, October 13th will be issued a $0.096 dividend. This represents a dividend yield of 60.0%. The ex-dividend date of this dividend is Friday, October 10th. Full Truck Alliance's dividend payout ratio is presently 28.57%.

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.

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