Russell Investments Group Ltd. acquired a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 373,531 shares of the company's stock, valued at approximately $4,770,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. purchased a new stake in shares of Full Truck Alliance during the first quarter worth $29,000. US Bancorp DE purchased a new position in Full Truck Alliance in the first quarter valued at $40,000. Townsquare Capital LLC acquired a new position in Full Truck Alliance during the 4th quarter worth $111,000. Wolverine Trading LLC purchased a new stake in Full Truck Alliance during the 4th quarter worth about $115,000. Finally, Vise Technologies Inc. acquired a new stake in Full Truck Alliance in the 4th quarter valued at about $130,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Citigroup cut their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.
Check Out Our Latest Report on Full Truck Alliance
Full Truck Alliance Stock Up 5.3%
YMM traded up $0.6350 on Friday, reaching $12.7250. The company's stock had a trading volume of 28,819,335 shares, compared to its average volume of 14,491,707. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $6.85 and a fifty-two week high of $13.85. The stock has a 50 day moving average of $11.83 and a two-hundred day moving average of $11.91. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 22.72 and a beta of 0.20.
Full Truck Alliance Cuts Dividend
The business also recently announced an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be given a $0.096 dividend. This represents a dividend yield of 60.0%. The ex-dividend date of this dividend is Friday, October 10th. Full Truck Alliance's dividend payout ratio (DPR) is 28.57%.
About Full Truck Alliance
(
Free Report)
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.
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