TB Alternative Assets Ltd. Has $6.77 Million Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

TB Alternative Assets Ltd. increased its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 31.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 530,454 shares of the company's stock after buying an additional 126,688 shares during the period. Full Truck Alliance accounts for approximately 1.6% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 17th biggest position. TB Alternative Assets Ltd. owned approximately 0.05% of Full Truck Alliance worth $6,774,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in YMM. Barclays PLC acquired a new position in Full Truck Alliance during the third quarter worth $3,566,000. abrdn plc increased its holdings in Full Truck Alliance by 22.6% during the fourth quarter. abrdn plc now owns 22,705 shares of the company's stock worth $246,000 after buying an additional 4,187 shares during the last quarter. IMC Chicago LLC acquired a new position in Full Truck Alliance during the fourth quarter worth $263,000. Savant Capital LLC acquired a new position in Full Truck Alliance during the fourth quarter worth $194,000. Finally, Truist Financial Corp acquired a new position in Full Truck Alliance during the fourth quarter worth $143,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

YMM stock opened at $12.15 on Friday. The company's 50-day simple moving average is $11.40 and its 200 day simple moving average is $11.54. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85. The company has a market capitalization of $12.70 billion, a PE ratio of 28.92 and a beta of 0.20.

Analysts Set New Price Targets

Several research firms have commented on YMM. Citigroup decreased their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $10.00 in a report on Monday, April 14th. Finally, Barclays upped their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Two equities research 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.com, Full Truck Alliance has a consensus rating of "Moderate Buy" and a consensus price target 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.

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