Nuveen LLC Acquires New Stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Nuveen LLC acquired a new stake in Full Truck Alliance Co. Ltd. valued at approximately $59.93 million, buying 4,693,271 shares during the first quarter.
• Citigroup downgraded its price target for Full Truck Alliance from $16.50 to $16.00 while maintaining a "buy" rating, contributing to the stock's current consensus rating of "Moderate Buy".
• Full Truck Alliance's stock has experienced significant volatility, with a one-year low of $6.85 and a high of $13.85, currently trading at approximately $11.30.

Nuveen LLC bought a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,693,271 shares of the company's stock, valued at approximately $59,933,000. Nuveen LLC owned approximately 0.45% of Full Truck Alliance as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Full Truck Alliance by 3.1% in the first quarter. Invesco Ltd. now owns 30,965,571 shares of the company's stock valued at $395,430,000 after acquiring an additional 917,263 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Full Truck Alliance in the first quarter valued at approximately $29,000. Davis Selected Advisers raised its holdings in Full Truck Alliance by 44.8% in the first quarter. Davis Selected Advisers now owns 7,819,344 shares of the company's stock valued at $99,853,000 after acquiring an additional 2,418,953 shares in the last quarter. Keystone Investors PTE Ltd. raised its holdings in Full Truck Alliance by 406.8% in the first quarter. Keystone Investors PTE Ltd. now owns 3,000,123 shares of the company's stock valued at $38,312,000 after acquiring an additional 2,408,171 shares in the last quarter. Finally, NS Partners Ltd raised its holdings in Full Truck Alliance by 754.7% during the first quarter. NS Partners Ltd now owns 1,413,600 shares of the company's stock worth $18,052,000 after purchasing an additional 1,248,200 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Price Performance

Shares of YMM traded up $0.27 during mid-day trading on Friday, reaching $11.04. 12,681,480 shares of the company's stock were exchanged, compared to its average volume of 13,569,690. The stock has a market capitalization of $11.55 billion, a PE ratio of 22.08 and a beta of 0.20. The business's fifty day simple moving average is $11.90 and its 200-day simple moving average is $11.91. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $6.85 and a 52-week high of $13.85.

Analyst Ratings Changes

Separately, Citigroup cut their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Two equities research 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 data from MarketBeat, Full Truck Alliance has an average rating of "Moderate Buy" and a consensus price target 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.