Man Group plc Cuts Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Man Group plc reduced its holdings in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 73.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,035 shares of the company's stock after selling 249,364 shares during the quarter. Man Group plc's holdings in Full Truck Alliance were worth $953,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in YMM. SBI Securities Co. Ltd. acquired a new position in shares of Full Truck Alliance during the 4th quarter worth about $64,000. Townsquare Capital LLC purchased a new stake in Full Truck Alliance during the 4th quarter valued at approximately $111,000. Truist Financial Corp purchased a new stake in Full Truck Alliance during the 4th quarter valued at approximately $143,000. Jasper Ridge Partners L.P. purchased a new stake in Full Truck Alliance during the 4th quarter valued at approximately $149,000. Finally, Savant Capital LLC purchased a new stake in Full Truck Alliance during the 4th quarter valued at approximately $194,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

Shares of YMM traded up $0.28 during trading hours on Wednesday, hitting $12.06. The stock had a trading volume of 6,474,409 shares, compared to its average volume of 8,696,837. The firm has a market cap of $12.61 billion, a P/E ratio of 28.73 and a beta of 0.20. The company's fifty day simple moving average is $11.57 and its 200 day simple moving average is $11.36. Full Truck Alliance Co. Ltd. has a 12-month low of $6.66 and a 12-month high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, April 17th. Investors of record on Monday, April 7th were given a $0.1444 dividend. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, April 7th. Full Truck Alliance's dividend payout ratio (DPR) is 32.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on YMM. HSBC initiated coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price for the company. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a report on Thursday, March 6th. Citigroup lowered their target price 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. Finally, Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

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.