Man Group plc Sells 249,364 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Man Group plc decreased its position in 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 fund owned 88,035 shares of the company's stock after selling 249,364 shares during the period. 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 recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $64,000. Townsquare Capital LLC purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $111,000. Truist Financial Corp purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $143,000. Jasper Ridge Partners L.P. purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $149,000. Finally, Savant Capital LLC purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $194,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Up 3.5%

YMM traded up $0.42 on Thursday, hitting $12.40. The company's stock had a trading volume of 3,260,638 shares, compared to its average volume of 8,961,299. The company's 50 day simple moving average is $11.55 and its 200-day simple moving average is $11.36. The firm has a market cap of $12.96 billion, a P/E ratio of 29.49 and a beta of 0.20. 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 declared an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were issued a $0.1444 dividend. This represents a yield of 0.9%. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date was Monday, April 7th. Full Truck Alliance's dividend payout ratio (DPR) is presently 32.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. HSBC began coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target for the company. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Barclays raised their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Full Truck Alliance currently has a consensus rating of "Moderate Buy" and a consensus 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.