Myriad Asset Management US LP Takes $2.50 Million Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Myriad Asset Management US LP acquired a new position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 195,444 shares of the company's stock, valued at approximately $2,496,000. Full Truck Alliance accounts for 1.1% of Myriad Asset Management US LP's portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in YMM. SBI Securities Co. Ltd. acquired a new stake in Full Truck Alliance during the 4th quarter worth about $64,000. Townsquare Capital LLC acquired a new stake in Full Truck Alliance during the 4th quarter worth about $111,000. Wolverine Trading LLC acquired a new stake in Full Truck Alliance during the fourth quarter worth about $115,000. Vise Technologies Inc. acquired a new stake in Full Truck Alliance during the fourth quarter worth about $130,000. Finally, Truist Financial Corp acquired a new stake in Full Truck Alliance during the fourth quarter worth about $143,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on YMM shares. Barclays raised their target price on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Industrial Alliance Securities set a $18.00 target price 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. 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. Finally, HSBC initiated coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Trading Down 1.8%

YMM traded down $0.23 during trading on Friday, hitting $12.15. The company's stock had a trading volume of 3,851,984 shares, compared to its average volume of 8,922,400. Full Truck Alliance Co. Ltd. has a twelve month low of $6.66 and a twelve month high of $13.85. The business's fifty day simple moving average is $11.40 and its 200 day simple moving average is $11.53. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 28.92 and a beta of 0.20.

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.