Thornburg Investment Management Inc. Acquires Shares of 436,514 Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Thornburg Investment Management Inc. purchased a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 436,514 shares of the company's stock, valued at approximately $5,574,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Full Truck Alliance by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after buying an additional 295,301 shares during the period. Norges Bank bought a new position in shares of Full Truck Alliance in the 4th quarter valued at about $101,649,000. Schroder Investment Management Group lifted its stake in Full Truck Alliance by 460.5% in the 4th quarter. Schroder Investment Management Group now owns 859,444 shares of the company's stock valued at $9,299,000 after purchasing an additional 706,122 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake 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. Finally, Franklin Resources Inc. lifted its stake in Full Truck Alliance by 8.7% in the 4th 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 last quarter. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Trading Down 7.8%

Shares of YMM traded down $0.90 on Friday, reaching $10.65. The company's stock had a trading volume of 22,752,338 shares, compared to its average volume of 8,445,167. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $6.66 and a twelve month high of $13.85. The stock has a market capitalization of $11.14 billion, a PE ratio of 21.30 and a beta of 0.20. The firm has a fifty day moving average of $12.04 and a 200-day moving average of $11.91.

Analysts Set New Price Targets

YMM has been the subject of a number of analyst reports. Citigroup dropped 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 research report on Thursday, May 22nd. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.