Summit Global Investments Acquires New Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Summit Global Investments bought a new stake in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 26,510 shares of the company's stock, valued at approximately $339,000.

Several other institutional investors have also recently added to or reduced their stakes in YMM. SBI Securities Co. Ltd. purchased a new position in Full Truck Alliance during the 4th quarter worth $64,000. Townsquare Capital LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter worth about $111,000. Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter worth about $115,000. Vise Technologies Inc. purchased a new position in Full Truck Alliance during the fourth quarter worth about $130,000. Finally, Truist Financial Corp acquired a new stake in Full Truck Alliance in the fourth quarter valued at about $143,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. HSBC assumed coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price on the stock. Barclays upped their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a research report on Thursday, March 6th. Finally, Citigroup cut their price target on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Down 0.4%

Shares of YMM traded down $0.05 on Tuesday, reaching $11.76. The stock had a trading volume of 3,282,494 shares, compared to its average volume of 8,911,170. Full Truck Alliance Co. Ltd. has a twelve month low of $6.66 and a twelve month high of $13.85. The firm has a market capitalization of $12.29 billion, a PE ratio of 27.99 and a beta of 0.20. The firm has a 50-day moving average of $11.47 and a 200 day moving average of $11.47.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were given a $0.1444 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio (DPR) is currently 32.00%.

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.