Goldman Sachs Group Inc. Boosts Stake in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Goldman Sachs increased its stake in Full Truck Alliance Co. Ltd. by 9.5%, now owning over 10.7 million shares valued at approximately $137.4 million.
• Citigroup has lowered its price target for the company from $16.50 to $16.00, while maintaining a "buy" rating, indicating mixed sentiment among analysts.
• Full Truck Alliance announced a dividend payout of $0.096 per share, representing a yield of 60%, scheduled for distribution on October 27th.

Goldman Sachs Group Inc. lifted its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,761,409 shares of the company's stock after purchasing an additional 935,344 shares during the quarter. Goldman Sachs Group Inc. owned about 1.03% of Full Truck Alliance worth $137,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in YMM. D. E. Shaw & Co. Inc. boosted its position in shares of Full Truck Alliance by 10.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 831,023 shares of the company's stock worth $8,992,000 after purchasing an additional 81,389 shares in the last quarter. LMR Partners LLP boosted its position in shares of Full Truck Alliance by 25.4% in the 4th quarter. LMR Partners LLP now owns 27,881 shares of the company's stock worth $302,000 after purchasing an additional 5,646 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Full Truck Alliance in the 4th quarter worth approximately $60,356,000. Raiffeisen Bank International AG purchased a new position in Full Truck Alliance in the 4th quarter worth approximately $1,882,000. Finally, Softbank Group CORP. raised its holdings in Full Truck Alliance by 279.9% in 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 last quarter. 39.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup decreased their price objective 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 analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Stock Down 0.5%

YMM traded down $0.07 during mid-day trading on Monday, reaching $13.56. 5,755,174 shares of the company traded hands, compared to its average volume of 9,142,390. The stock has a market capitalization of $14.18 billion, a P/E ratio of 24.21 and a beta of 0.21. The company's fifty day moving average price is $12.19 and its 200-day moving average price is $12.00. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $7.20 and a 52-week high of $13.85.

Full Truck Alliance Cuts Dividend

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

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.