OVERSEA CHINESE BANKING Corp Ltd Grows Stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

OVERSEA CHINESE BANKING Corp Ltd raised its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 632.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,159,857 shares of the company's stock after buying an additional 4,454,913 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.49% of Full Truck Alliance worth $65,891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Full Truck Alliance by 6.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after buying an additional 1,406 shares during the period. Bank of New York Mellon Corp grew its stake in Full Truck Alliance by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock worth $1,087,000 after purchasing an additional 1,577 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Full Truck Alliance by 1.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company's stock valued at $1,128,000 after acquiring an additional 1,722 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Full Truck Alliance by 20.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after acquiring an additional 3,442 shares during the period. Finally, LMR Partners LLP boosted its position in shares of Full Truck Alliance by 25.4% during the fourth quarter. LMR Partners LLP now owns 27,881 shares of the company's stock valued at $302,000 after buying an additional 5,646 shares during the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Down 2.0%

Shares of NYSE:YMM traded down $0.25 during midday trading on Thursday, reaching $12.29. 7,184,772 shares of the company traded hands, compared to its average volume of 8,722,228. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12 month low of $6.66 and a 12 month high of $13.85. The firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of 24.58 and a beta of 0.20. The firm's fifty day moving average price is $12.11 and its two-hundred day moving average price is $11.83.

Analysts Set New Price Targets

A number of analysts recently commented on YMM shares. Citigroup dropped their price target on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.