Mawer Investment Management Ltd. Invests $3.86 Million in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Mawer Investment Management Ltd. has invested approximately $3.86 million in Full Truck Alliance Co. Ltd., acquiring 302,500 shares of the company in the first quarter.
• The stock performance of Full Truck Alliance shows a market capitalization of $12.03 billion with a recent price range of $6.66 to $13.85 over the past twelve months.
• Analyst ratings for the stock indicate a consensus rating of "Moderate Buy" with a price target of $15.00, despite a downgrade from JPMorgan Chase from "overweight" to "neutral."

Mawer Investment Management Ltd. acquired a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 302,500 shares of the company's stock, valued at approximately $3,863,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. ANTIPODES PARTNERS Ltd boosted its holdings in Full Truck Alliance by 168.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 126,834 shares of the company's stock worth $1,620,000 after buying an additional 79,573 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Full Truck Alliance during the first quarter worth approximately $3,097,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Full Truck Alliance by 632.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,159,857 shares of the company's stock worth $65,891,000 after buying an additional 4,454,913 shares in the last quarter. Alps Advisors Inc. bought a new stake in Full Truck Alliance during the first quarter worth approximately $1,764,000. Finally, LBP AM SA bought a new stake in Full Truck Alliance during the first quarter worth approximately $4,214,000. 39.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

YMM has been the subject of a number of research reports. Citigroup reduced their target price on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. 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 research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Full Truck Alliance currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Down 7.6%

NYSE YMM traded down $0.88 during midday trading on Friday, hitting $10.68. The company had a trading volume of 16,910,169 shares, compared to its average volume of 8,401,546. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 21.35 and a beta of 0.20. The firm has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $11.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $6.66 and a fifty-two week high of $13.85.

About Full Truck Alliance

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.