Hsbc Holdings PLC Reduces Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Hsbc Holdings PLC reduced its stake in Full Truck Alliance by 8.1%, holding approximately $29.15 million worth of the stock as of its latest SEC filing.
• Multiple institutional investors have recently increased or established new positions in Full Truck Alliance, with significant investments including $164.56 million from Aspex Management HK Ltd.
• Full Truck Alliance's stock has shown a recent increase of 5.3%, currently trading around $12.73, and the company has announced a dividend of $0.096 per share for shareholders.

Hsbc Holdings PLC decreased its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,278,879 shares of the company's stock after selling 201,551 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Full Truck Alliance worth $29,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Full Truck Alliance by 3.1% in the 1st quarter. Invesco Ltd. now owns 30,965,571 shares of the company's stock valued at $395,430,000 after buying an additional 917,263 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Full Truck Alliance by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 29,373,877 shares of the company's stock valued at $375,104,000 after acquiring an additional 430,834 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in shares of Full Truck Alliance by 23.2% in the 1st quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock valued at $334,665,000 after acquiring an additional 4,931,028 shares in the last quarter. Aspex Management HK Ltd bought a new position in shares of Full Truck Alliance in the 4th quarter valued at about $164,557,000. Finally, Sylebra Capital LLC grew its holdings in Full Truck Alliance by 64.3% during the fourth quarter. Sylebra Capital LLC now owns 10,693,280 shares of the company's stock worth $115,701,000 after purchasing an additional 4,184,065 shares during the period. Institutional investors own 39.02% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their price objective on 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 research 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. Based on data from MarketBeat, Full Truck Alliance currently has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Price Performance

YMM stock traded up $0.11 during midday trading on Monday, reaching $12.84. 15,430,508 shares of the stock were exchanged, compared to its average volume of 14,625,368. The stock has a market capitalization of $13.43 billion, a PE ratio of 22.93 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $6.85 and a 52 week high of $13.85. The company has a fifty day moving average price of $11.84 and a 200 day moving average price of $11.92.

Full Truck Alliance Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, October 13th will be paid a $0.096 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 60.0%. Full Truck Alliance's dividend payout ratio (DPR) 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.