Hsbc Holdings PLC Cuts 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 lowered its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. purchased a new stake in Full Truck Alliance in the first quarter valued at approximately $29,000. Brooklyn Investment Group raised its stake in shares of Full Truck Alliance by 495.4% during the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after purchasing an additional 2,046 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Full Truck Alliance during the first quarter worth approximately $40,000. Summit Securities Group LLC raised its stake in shares of Full Truck Alliance by 1,466.6% during the first quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock worth $64,000 after purchasing an additional 4,693 shares during the last quarter. Finally, Wolverine Trading LLC purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth approximately $115,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Analysts Set New Price Targets

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

Full Truck Alliance Trading Up 0.7%

Shares of Full Truck Alliance stock traded up $0.09 during trading hours on Thursday, hitting $12.78. 3,765,056 shares of the company were exchanged, compared to its average volume of 9,075,282. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $7.00 and a 1 year high of $13.85. The business has a 50-day moving average of $11.88 and a 200-day moving average of $11.93. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 22.81 and a beta of 0.20.

Full Truck Alliance Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, October 13th will be given 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 is presently 28.57%.

About Full Truck Alliance

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.