Wellington Management Group LLP Acquires New Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Wellington Management Group LLP has acquired 532,858 shares of Full Truck Alliance Co. Ltd., valued at approximately $6.8 million, increasing its stake to about 0.05% of the company.
• The company announced an annual dividend of $0.096, which represents a significant 60.0% yield and is payable on October 27th.
• Analysts have mixed ratings on Full Truck Alliance, with Citigroup lowering its price target from $16.50 to $16.00, maintaining a "buy" rating for the stock.

Wellington Management Group LLP bought a new position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 532,858 shares of the company's stock, valued at approximately $6,805,000. Wellington Management Group LLP owned 0.05% of Full Truck Alliance at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. bought a new position in shares of Full Truck Alliance during the 1st quarter worth about $29,000. Brooklyn Investment Group increased its holdings in shares of Full Truck Alliance by 495.4% during the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after purchasing an additional 2,046 shares during the period. US Bancorp DE bought a new position in shares of Full Truck Alliance during the 1st quarter worth about $40,000. Summit Securities Group LLC increased its holdings in shares of Full Truck Alliance by 1,466.6% during the 1st quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock worth $64,000 after purchasing an additional 4,693 shares during the period. Finally, Wolverine Trading LLC bought a new position in shares of Full Truck Alliance during the 4th quarter worth about $115,000. Institutional investors own 39.02% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Full Truck Alliance has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Price Performance

Shares of YMM stock traded up $0.18 during trading hours on Tuesday, reaching $13.23. 10,949,348 shares of the company were exchanged, compared to its average volume of 9,163,920. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $7.00 and a fifty-two week high of $13.85. The stock's fifty day moving average is $11.95 and its two-hundred day moving average is $11.93. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 23.62 and a beta of 0.21.

Full Truck Alliance Cuts Dividend

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

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.