Sylebra Capital LLC Sells 2,365,467 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Sylebra Capital LLC has reduced its stake in Full Truck Alliance Co. Ltd. by 36.3%, selling 2,365,467 shares, leaving them with approximately 4.1 million shares worth $52.9 million.
• The stock's annual dividend of $0.096 will be paid on October 27th, indicating a substantial 60.0% dividend yield.
• Citigroup has dropped the target price on Full Truck Alliance from $16.50 to $16.00 but maintains a "buy" rating, with the stock currently rated as a Moderate Buy based on analyst consensus.

Sylebra Capital LLC lowered its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 36.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,143,748 shares of the company's stock after selling 2,365,467 shares during the period. Full Truck Alliance makes up approximately 2.7% of Sylebra Capital LLC's portfolio, making the stock its 9th biggest holding. Sylebra Capital LLC owned about 0.40% of Full Truck Alliance worth $52,916,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. KADENSA CAPITAL Ltd increased its holdings in shares of Full Truck Alliance by 185.0% in the first quarter. KADENSA CAPITAL Ltd now owns 1,288,269 shares of the company's stock valued at $16,451,000 after purchasing an additional 836,189 shares during the period. Royal Bank of Canada increased its holdings in shares of Full Truck Alliance by 172.4% in the first quarter. Royal Bank of Canada now owns 34,765 shares of the company's stock valued at $444,000 after purchasing an additional 22,001 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Full Truck Alliance in the first quarter valued at approximately $8,817,000. The Manufacturers Life Insurance Company increased its holdings in shares of Full Truck Alliance by 25.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,498,085 shares of the company's stock valued at $19,131,000 after purchasing an additional 302,381 shares during the period. Finally, Taikang Asset Management Hong Kong Co Ltd increased its holdings in shares of Full Truck Alliance by 13.5% in the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 1,548,266 shares of the company's stock valued at $19,771,000 after purchasing an additional 184,652 shares during the period. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Price Performance

Full Truck Alliance stock opened at $13.26 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $7.00 and a 1-year high of $13.85. The company has a market cap of $13.86 billion, a PE ratio of 23.67 and a beta of 0.21. The stock's 50 day moving average price is $12.05 and its 200 day moving average price is $11.95.

Full Truck Alliance Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be paid a $0.096 dividend. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 60.0%. Full Truck Alliance's payout ratio is 28.57%.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Company 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.

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