Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Holdings Lifted by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its stake in Full Truck Alliance by 3.1%, now holding 30,965,571 shares valued at approximately $395.43 million.
• JPMorgan Chase & Co. downgraded Full Truck Alliance's stock rating from "overweight" to "neutral," lowering the price target from $18 to $10.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $15, despite varying opinions from analysts regarding its performance.

Invesco Ltd. boosted its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,965,571 shares of the company's stock after buying an additional 917,263 shares during the quarter. Invesco Ltd. owned 2.96% of Full Truck Alliance worth $395,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Full Truck Alliance by 6.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock worth $311,000 after purchasing an additional 1,406 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Full Truck Alliance by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock valued at $1,087,000 after buying an additional 1,577 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Full Truck Alliance during the 1st quarter valued at about $29,000. US Bancorp DE bought a new position in shares of Full Truck Alliance during the first quarter valued at approximately $40,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Full Truck Alliance by 20.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock worth $221,000 after purchasing an additional 3,442 shares during the period. Institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Down 4.6%

NYSE YMM traded down $0.52 on Thursday, hitting $10.78. The stock had a trading volume of 11,825,315 shares, compared to its average volume of 8,774,886. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.85 and a one year high of $13.85. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 21.56 and a beta of 0.20. The company's 50-day moving average is $11.95 and its two-hundred day moving average is $11.91.

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 research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Full Truck Alliance currently has an average rating of "Moderate Buy" and an average price target of $15.00.

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.