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

Myriad Asset Management US LP acquired a new position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 195,444 shares of the company's stock, valued at approximately $2,496,000. Full Truck Alliance comprises approximately 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 also recently made changes to their positions in YMM. SBI Securities Co. Ltd. acquired a new position in shares of Full Truck Alliance in the 4th quarter worth approximately $64,000. 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 position in shares of Full Truck Alliance in the 4th quarter worth about $115,000. Vise Technologies Inc. bought a new position in shares of Full Truck Alliance in the 4th quarter worth about $130,000. Finally, Truist Financial Corp acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at about $143,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock traded up $0.39 on Thursday, hitting $12.39. The company had a trading volume of 9,811,233 shares, compared to its average volume of 8,907,838. Full Truck Alliance Co. Ltd. has a 1 year low of $6.66 and a 1 year high of $13.85. The stock has a 50 day moving average of $11.42 and a 200-day moving average of $11.48. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 29.49 and a beta of 0.20.

Analysts Set New Price Targets

A number of equities research analysts have commented on YMM shares. Citigroup reduced their price target 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. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research note on Thursday, March 6th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Barclays boosted their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, HSBC started coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Full Truck Alliance has an average 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.