Greenwoods Asset Management Hong Kong Ltd. Sells 1,505,100 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Greenwoods Asset Management Hong Kong reduced its Full Truck Alliance position by 1.5 million shares, or 3.7%, but still held 39.45 million shares worth approximately $320.4 million at quarter-end.
• Analysts maintained a generally positive outlook, with six Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $11.30 versus the stock’s $8.77 opening price.
• Full Truck Alliance exceeded quarterly expectations with EPS of $0.20 and revenue of $497.7 million, and announced a quarterly dividend of $0.084, equivalent to a 3.8% annualized yield.

Greenwoods Asset Management Hong Kong Ltd. decreased its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,452,419 shares of the company's stock after selling 1,505,100 shares during the period. Full Truck Alliance accounts for approximately 14.7% of Greenwoods Asset Management Hong Kong Ltd.'s investment portfolio, making the stock its 4th largest position. Greenwoods Asset Management Hong Kong Ltd. owned 3.78% of Full Truck Alliance worth $320,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Full Truck Alliance by 150.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,937 shares of the company's stock valued at $32,000 after buying an additional 1,762 shares during the period. Parallel Advisors LLC acquired a new position in Full Truck Alliance in the first quarter valued at approximately $25,000. Rockefeller Capital Management L.P. purchased a new position in Full Truck Alliance in the fourth quarter worth approximately $39,000. EverSource Wealth Advisors LLC grew its position in Full Truck Alliance by 274.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company's stock worth $46,000 after acquiring an additional 2,845 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in Full Truck Alliance in the third quarter worth approximately $51,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on YMM shares. UBS Group restated a "buy" rating and issued a $13.36 target price on shares of Full Truck Alliance in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $8.60 to $10.00 in a report on Monday, June 29th. Nomura set a $11.00 price objective on Full Truck Alliance in a research report on Monday, June 15th. Weiss Ratings downgraded Full Truck Alliance from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Finally, Bank of America assumed coverage on shares of Full Truck Alliance in a report on Tuesday, May 5th. They issued a "buy" rating and a $11.30 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.30.

Full Truck Alliance Stock Performance

Full Truck Alliance stock opened at $8.77 on Monday. The company has a market capitalization of $9.14 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.76 and a beta of 0.35. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $7.45 and a fifty-two week high of $14.07. The firm has a 50 day moving average price of $8.84 and a 200 day moving average price of $8.78.

Full Truck Alliance (NYSE:YMM - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Full Truck Alliance had a return on equity of 10.68% and a net margin of 33.07%.The company had revenue of $497.73 million for the quarter, compared to analysts' expectations of $463.13 million. As a group, equities research analysts forecast that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.71 earnings per share for the current year.

Full Truck Alliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 14th will be issued a $0.084 dividend. This represents a $0.34 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, October 14th. Full Truck Alliance's payout ratio is currently 54.24%.

About Full Truck Alliance

Full Truck Alliance NYSE: YMM operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.

Want to see what other hedge funds are holding YMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source