First Beijing Investment Ltd Has $379.74 Million Stock Holdings in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

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

Other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors Inc. acquired a new stake in Full Truck Alliance during the first quarter worth approximately $29,000. Brooklyn Investment Group grew its position in Full Truck Alliance by 495.4% during the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after buying an additional 2,046 shares in the last quarter. US Bancorp DE acquired a new stake in Full Truck Alliance during the first quarter worth approximately $40,000. Summit Securities Group LLC grew its position in Full Truck Alliance by 1,466.6% during the first quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock worth $64,000 after buying an additional 4,693 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new stake in Full Truck Alliance during the fourth quarter worth approximately $115,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price target on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Full Truck Alliance presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Trading Down 1.4%

NYSE YMM traded down $0.19 on Friday, hitting $13.60. 4,687,716 shares of the company's stock were exchanged, compared to its average volume of 11,906,954. The stock has a 50-day moving average of $12.19 and a 200-day moving average of $12.00. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $7.09 and a 52 week high of $13.85. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 24.29 and a beta of 0.21.

Full Truck Alliance Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be given a dividend of $0.096 per share. This represents a yield of 60.0%. The ex-dividend date of this dividend is Friday, October 10th. Full Truck Alliance's dividend payout ratio (DPR) is currently 33.93%.

Full Truck Alliance 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.