Kontiki Capital Management HK Ltd. Buys New Position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Kontiki Capital Management HK Ltd. has invested approximately $81.32 million in Full Truck Alliance, acquiring about 6.37 million shares, which represents 5.9% of its portfolio.
• Multiple institutional investors have adjusted their positions in Full Truck Alliance, with 39.02% of the stock now owned by these entities, indicating growing interest.
• Analysts have mixed opinions on Full Truck Alliance, with Citigroup maintaining a "buy" rating while JPMorgan Chase has downgraded its rating and severely cut its price target.

Kontiki Capital Management HK Ltd. purchased a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,368,026 shares of the company's stock, valued at approximately $81,320,000. Full Truck Alliance accounts for approximately 5.9% of Kontiki Capital Management HK Ltd.'s investment portfolio, making the stock its 6th biggest position. Kontiki Capital Management HK Ltd. owned 0.61% of Full Truck Alliance as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Aspex Management HK Ltd acquired a new stake in Full Truck Alliance in the fourth quarter valued at $164,557,000. Nuveen Asset Management LLC acquired a new stake in Full Truck Alliance in the fourth quarter valued at $60,356,000. Krane Funds Advisors LLC lifted its holdings in Full Truck Alliance by 23.2% in the first 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 during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Full Truck Alliance by 632.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,159,857 shares of the company's stock valued at $65,891,000 after acquiring an additional 4,454,913 shares during the period. Finally, KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its holdings in Full Truck Alliance by 25,877.9% in the fourth quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 4,234,400 shares of the company's stock valued at $45,816,000 after acquiring an additional 4,218,100 shares during the period. 39.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. 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. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy 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 $15.00.

Full Truck Alliance Trading Down 2.5%

Shares of NYSE:YMM traded down $0.29 during midday trading on Friday, hitting $11.34. 13,832,621 shares of the stock were exchanged, compared to its average volume of 13,231,091. The stock has a market cap of $11.86 billion, a P/E ratio of 22.68 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $6.85 and a twelve month high of $13.85. The company has a 50 day moving average price of $11.98 and a 200-day moving average price of $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.