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

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE bought a new stake in Full Truck Alliance during the first quarter valued at $40,000. Townsquare Capital LLC bought a new stake in Full Truck Alliance during the fourth quarter valued at $111,000. Wolverine Trading LLC bought a new stake in Full Truck Alliance during the fourth quarter valued at $115,000. Vise Technologies Inc. bought a new stake in Full Truck Alliance during the fourth quarter valued at $130,000. Finally, Jasper Ridge Partners L.P. bought a new stake in Full Truck Alliance during the fourth quarter valued at $149,000. Institutional investors own 39.02% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on YMM shares. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $18.00 to $10.00 in a report on Monday, April 14th. Citigroup dropped their price target on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Two 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Stock Up 1.3%

Shares of YMM traded up $0.15 during trading hours on Tuesday, reaching $11.41. The company's stock had a trading volume of 3,770,686 shares, compared to its average volume of 8,705,710. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 22.81 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $6.85 and a 1-year high of $13.85. The company has a 50 day moving average of $11.97 and a two-hundred day moving average of $11.92.

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.