Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Holdings Boosted by Pinpoint Asset Management Ltd

Key Points

• Pinpoint Asset Management Ltd increased its investment in Full Truck Alliance by 23%, acquiring an additional 1,448,760 shares, making it the largest position in their portfolio.
• Full Truck Alliance's consensus rating is a "Moderate Buy" with an average target price set at $15.00, despite recent downgrades from analysts at JPMorgan and Citigroup.
• The stock opened at $11.36, with a market capitalization of $11.88 billion and a 12-month price range between $6.85 and $13.85.

Pinpoint Asset Management Ltd grew its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 23.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,735,913 shares of the company's stock after acquiring an additional 1,448,760 shares during the period. Full Truck Alliance accounts for 17.3% of Pinpoint Asset Management Ltd's portfolio, making the stock its largest holding. Pinpoint Asset Management Ltd owned 0.74% of Full Truck Alliance worth $98,788,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE purchased a new position in Full Truck Alliance during the first quarter valued at $40,000. Townsquare Capital LLC purchased a new position in Full Truck Alliance during the fourth quarter valued at $111,000. Wolverine Trading LLC bought a new position in Full Truck Alliance during the fourth quarter valued at $115,000. Vise Technologies Inc. bought a new position in Full Truck Alliance during the fourth quarter valued at $130,000. Finally, Jasper Ridge Partners L.P. bought a new position in Full Truck Alliance during the fourth quarter valued at $149,000. 39.02% of the stock is currently owned by institutional investors.

Full Truck Alliance Trading Down 1.3%

Shares of YMM stock traded down $0.15 during trading hours on Monday, hitting $11.18. The company's stock had a trading volume of 3,733,253 shares, compared to its average volume of 8,717,191. The company has a 50 day moving average of $11.98 and a 200 day moving average of $11.92. The stock has a market cap of $11.69 billion, a PE ratio of 22.35 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $6.85 and a 12-month high of $13.85.

Analysts Set New Price Targets

Several research firms have commented on YMM. Citigroup lowered 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. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance 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.