Taikang Asset Management Hong Kong Co Ltd Has $19.77 Million Stake in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Full Truck Alliance by 13.5% in the first quarter, now holding approximately 1.5 million shares worth nearly $19.8 million.
• Citigroup cut its price target on Full Truck Alliance from $16.50 to $16.00 but maintained a "buy" rating, with the stock currently holding an average rating of "Moderate Buy."
• Full Truck Alliance will pay an annual dividend of $0.096 per share on October 27th, representing a yield of 60.0%.

Taikang Asset Management Hong Kong Co Ltd grew its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 13.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,548,266 shares of the company's stock after buying an additional 184,652 shares during the quarter. Full Truck Alliance accounts for about 2.7% of Taikang Asset Management Hong Kong Co Ltd's portfolio, making the stock its 9th largest holding. Taikang Asset Management Hong Kong Co Ltd owned about 0.15% of Full Truck Alliance worth $19,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Full Truck Alliance by 6.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock worth $311,000 after acquiring an additional 1,406 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Full Truck Alliance by 66.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 627,958 shares of the company's stock worth $8,019,000 after acquiring an additional 249,788 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Full Truck Alliance during the 1st quarter worth approximately $315,000. US Bancorp DE bought a new stake in shares of Full Truck Alliance during the 1st quarter worth approximately $40,000. Finally, Softbank Group CORP. lifted its holdings in shares of Full Truck Alliance by 279.9% during the 4th quarter. Softbank Group CORP. now owns 4,220,001 shares of the company's stock worth $45,660,000 after acquiring an additional 3,109,250 shares during the period. Institutional investors own 39.02% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup cut their price target on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Stock Up 2.4%

Shares of YMM stock traded up $0.30 on Friday, reaching $13.05. The company had a trading volume of 13,661,989 shares, compared to its average volume of 14,752,693. The stock has a market capitalization of $13.65 billion, a PE ratio of 23.31 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $7.00 and a one year high of $13.85. The business's 50-day moving average is $11.93 and its 200 day moving average is $11.93.

Full Truck Alliance Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 60.0%. Full Truck Alliance's dividend payout ratio is 28.57%.

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.