National Bank of Canada FI Acquires Shares of 27,457 Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• National Bank of Canada FI has acquired a new stake in Full Truck Alliance Co. Ltd., investing approximately $351,000 to purchase 27,457 shares in the first quarter.
• During the fourth quarter, several institutional investors increased their positions in Full Truck Alliance, with Geode Capital Management LLC raising its stake by 16.2% to a total of 137,631 shares valued at about $1.49 million.
• Wall Street analysts have a generally positive outlook on Full Truck Alliance, with a current consensus price target of $15.00, although Citigroup recently lowered its target from $16.50 to $16.00 while maintaining a "buy" rating.

National Bank of Canada FI purchased a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,457 shares of the company's stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of YMM. Aspex Management HK Ltd acquired a new position in Full Truck Alliance during the fourth quarter worth approximately $164,557,000. Kontiki Capital Management HK Ltd. acquired a new position in Full Truck Alliance during the first quarter worth approximately $81,320,000. Nuveen Asset Management LLC acquired a new stake in shares of Full Truck Alliance in the fourth quarter worth $60,356,000. Krane Funds Advisors LLC increased its position in shares of Full Truck Alliance by 23.2% in the first quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock worth $334,665,000 after acquiring an additional 4,931,028 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Full Truck Alliance by 632.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,159,857 shares of the company's stock worth $65,891,000 after acquiring an additional 4,454,913 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

Shares of YMM stock traded up $1.1450 on Thursday, hitting $12.1550. The stock had a trading volume of 31,590,604 shares, compared to its average volume of 13,939,718. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 24.31 and a beta of 0.20. The stock's 50 day moving average is $11.81 and its 200-day moving average is $11.90. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $6.85 and a 52-week high of $13.85.

Wall Street Analyst Weigh In

Separately, Citigroup dropped their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.