Taikang Asset Management Hong Kong Co Ltd Increases 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 increased its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,548,266 shares of the company's stock after acquiring an additional 184,652 shares during the quarter. Full Truck Alliance comprises about 2.7% of Taikang Asset Management Hong Kong Co Ltd's investment portfolio, making the stock its 9th biggest 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 quarter.

Several other institutional investors also recently modified their holdings of YMM. Mirae Asset Global Investments Co. Ltd. grew its position in 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 valued at $311,000 after purchasing an additional 1,406 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Full Truck Alliance by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock worth $1,087,000 after buying an additional 1,577 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Full Truck Alliance by 495.4% in 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 during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Full Truck Alliance during the 1st quarter worth approximately $29,000. Finally, US Bancorp DE bought a new stake in Full Truck Alliance during the 1st quarter worth approximately $40,000. 39.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock traded up $0.30 on Friday, hitting $13.05. 13,619,040 shares of the company traded hands, compared to its average volume of 9,124,469. The stock has a market capitalization of $13.65 billion, a P/E ratio of 23.31 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $7.00 and a 52 week high of $13.85. The business has a 50-day simple moving average of $11.90 and a 200 day simple moving average of $11.93.

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 given a dividend of $0.096 per share. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 60.0%. Full Truck Alliance's dividend payout ratio (DPR) is presently 33.93%.

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.