Northwest & Ethical Investments L.P. Cuts Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

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Northwest & Ethical Investments L.P. lowered its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 25.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,623 shares of the company's stock after selling 37,780 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Full Truck Alliance were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in YMM. Atlas Capital Advisors Inc. purchased a new stake in Full Truck Alliance in the first quarter valued at approximately $29,000. US Bancorp DE purchased a new stake in Full Truck Alliance in the first quarter valued at approximately $40,000. Townsquare Capital LLC purchased a new stake in Full Truck Alliance in the fourth quarter valued at approximately $111,000. Wolverine Trading LLC purchased a new stake in Full Truck Alliance in the fourth quarter valued at approximately $115,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Full Truck Alliance by 12,795.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock valued at $142,000 after buying an additional 11,004 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup reduced their price objective on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Full Truck Alliance presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Trading Up 5.3%

Shares of Full Truck Alliance stock traded up $0.6350 during trading hours on Friday, hitting $12.7250. 28,819,335 shares of the company were exchanged, compared to its average volume of 9,069,812. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $6.85 and a 1 year high of $13.85. The business has a 50-day moving average of $11.81 and a 200-day moving average of $11.90. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 25.45 and a beta of 0.20.

Full Truck Alliance Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, October 13th will be given a $0.096 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 60.0%. Full Truck Alliance's dividend payout ratio is presently 32.00%.

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.