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

Key Points

• Hsbc Holdings PLC boosted its stake in Full Truck Alliance by 62.4% in the first quarter, buying an additional 758,900 shares and bringing its total holding to 1,975,692 shares worth about $16.3 million.
• The stock traded down 2.2% to $9.04, with a market cap of $9.43 billion and a 52-week range of $7.45 to $14.07.
• Analysts remain constructive on the company: the consensus rating is Moderate Buy, with an average price target of $11.04 after recent upgrades from JPMorgan and buy ratings from firms including Bank of America and Citigroup.

Hsbc Holdings PLC raised its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 62.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,975,692 shares of the company's stock after purchasing an additional 758,900 shares during the quarter. Hsbc Holdings PLC owned 0.19% of Full Truck Alliance worth $16,301,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Parnassus Investments LLC lifted its holdings in Full Truck Alliance by 7.1% in the 4th quarter. Parnassus Investments LLC now owns 23,076 shares of the company's stock worth $248,000 after purchasing an additional 1,529 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in 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 in the last quarter. Capital International Sarl raised its position in shares of Full Truck Alliance by 0.8% during the fourth quarter. Capital International Sarl now owns 266,548 shares of the company's stock valued at $2,860,000 after buying an additional 2,030 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Full Truck Alliance by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 9,258 shares of the company's stock valued at $99,000 after buying an additional 2,373 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Full Truck Alliance by 23.1% in the fourth quarter. Hantz Financial Services Inc. now owns 13,946 shares of the company's stock worth $150,000 after buying an additional 2,613 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors.

Full Truck Alliance Trading Down 2.2%

Full Truck Alliance stock opened at $9.04 on Wednesday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $7.45 and a 12-month high of $14.07. The firm has a 50-day moving average price of $8.52 and a 200-day moving average price of $8.99. The firm has a market capitalization of $9.43 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31.

Full Truck Alliance Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were paid a $0.084 dividend. This represents a yield of 201.0%. The ex-dividend date was Tuesday, July 7th. Full Truck Alliance's dividend payout ratio is currently 28.07%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Nomura set a $11.00 price target on shares of Full Truck Alliance in a research note on Monday, June 15th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $8.60 to $10.00 in a research report on Monday, June 29th. Bank of America assumed coverage on Full Truck Alliance in a research note on Tuesday, May 5th. They set a "buy" rating and a $11.30 price target for the company. Weiss Ratings upgraded Full Truck Alliance from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 8th. Finally, Citigroup restated a "buy" rating on shares of Full Truck Alliance in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and an average price target of $11.04.

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.

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