Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Shares Purchased by Keystone Investors PTE Ltd.

Key Points

• Keystone Investors PTE Ltd. increased its stake in Full Truck Alliance Co. Ltd. by 406.8%, acquiring 2,408,171 additional shares, making it the 8th largest holding in their portfolio.
• Analysts have mixed ratings on Full Truck Alliance, with Citigroup lowering their target price from $16.50 to $16.00 while JPMorgan cut their price target from $18.00 to $10.00, resulting in a consensus price target of $15.00.
• As of the last quarter, 39.02% of Full Truck Alliance's stock is owned by institutional investors, indicating strong institutional support.

Keystone Investors PTE Ltd. grew its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 406.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,000,123 shares of the company's stock after purchasing an additional 2,408,171 shares during the quarter. Full Truck Alliance makes up about 5.4% of Keystone Investors PTE Ltd.'s holdings, making the stock its 8th largest position. Keystone Investors PTE Ltd. owned 0.29% of Full Truck Alliance worth $38,312,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in YMM. O Shaughnessy Asset Management LLC grew its holdings in shares of Full Truck Alliance by 20.3% during the fourth 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 last quarter. Franklin Resources Inc. grew its holdings in shares of Full Truck Alliance by 8.7% during the fourth quarter. Franklin Resources Inc. now owns 302,288 shares of the company's stock worth $3,271,000 after purchasing an additional 24,322 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Full Truck Alliance by 16.2% during the fourth quarter. Geode Capital Management LLC now owns 137,631 shares of the company's stock worth $1,489,000 after purchasing an additional 19,227 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Full Truck Alliance during the fourth quarter worth about $537,000. Finally, Federated Hermes Inc. grew its holdings in shares of Full Truck Alliance by 67.0% during the fourth quarter. Federated Hermes Inc. now owns 1,327,381 shares of the company's stock worth $14,362,000 after purchasing an additional 532,549 shares during the last quarter. Hedge funds and other institutional investors own 39.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup dropped their price objective on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Trading Down 2.5%

Shares of YMM traded down $0.29 during mid-day trading on Friday, hitting $11.34. 13,832,621 shares of the company's stock were exchanged, compared to its average volume of 13,231,091. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $6.85 and a fifty-two week high of $13.85. The firm has a market capitalization of $11.86 billion, a P/E ratio of 22.68 and a beta of 0.20. The business's 50 day moving average is $11.98 and its two-hundred day moving average is $11.92.

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.