Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) is Pinpoint Asset Management Ltd's Largest Position

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC lifted its position in Full Truck Alliance by 20.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after purchasing an additional 3,442 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Full Truck Alliance by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 302,288 shares of the company's stock valued at $3,271,000 after purchasing an additional 24,322 shares during the period. Geode Capital Management LLC raised its holdings in shares of Full Truck Alliance by 16.2% during the fourth quarter. Geode Capital Management LLC now owns 137,631 shares of the company's stock valued at $1,489,000 after buying an additional 19,227 shares during the last quarter. Prudential PLC acquired a new position in shares of Full Truck Alliance during the fourth quarter worth approximately $263,000. Finally, Envestnet Asset Management Inc. bought a new position in Full Truck Alliance in the 4th quarter worth approximately $537,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on YMM. Citigroup cut their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $18.00 to $10.00 in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Stock Down 2.5%

YMM traded down $0.29 during trading on Friday, reaching $11.34. The stock had a trading volume of 13,832,621 shares, compared to its average volume of 13,231,091. The stock has a 50 day moving average of $11.98 and a two-hundred day moving average of $11.91. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 22.68 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $6.85 and a 1-year high of $13.85.

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.