Westpac Banking Corp Buys 40,050 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• Westpac Banking Corp increased its stake in Full Truck Alliance by 7.7%, acquiring an additional 40,050 shares, bringing its total ownership to approximately 560,056 shares worth $7.15 million.
• Recent investments from other large firms include Aspex Management, which purchased a stake valued at $164.6 million, and Kontiki Capital Management with a stake valued at $81.3 million.
• Analysts have mixed ratings for Full Truck Alliance, with a consensus rating of "Moderate Buy" and a target price of $15.00, despite Citigroup and JPMorgan lowering their price targets.

Westpac Banking Corp grew its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,056 shares of the company's stock after purchasing an additional 40,050 shares during the quarter. Westpac Banking Corp owned approximately 0.05% of Full Truck Alliance worth $7,152,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Atlas Capital Advisors Inc. bought a new position in Full Truck Alliance during the first quarter worth about $29,000. US Bancorp DE bought a new position in Full Truck Alliance during the first quarter worth about $40,000. Townsquare Capital LLC bought a new position in Full Truck Alliance during the fourth quarter worth about $111,000. Wolverine Trading LLC bought a new position in Full Truck Alliance during the fourth quarter worth about $115,000. Finally, Vise Technologies Inc. bought a new position in Full Truck Alliance during the fourth quarter worth about $130,000. 39.02% of the stock is owned by institutional investors.

Full Truck Alliance Trading Down 4.6%

YMM stock traded down $0.52 during mid-day trading on Thursday, hitting $10.78. The stock had a trading volume of 11,825,315 shares, compared to its average volume of 8,774,886. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $6.85 and a 52 week high of $13.85. The firm has a market capitalization of $11.27 billion, a P/E ratio of 21.56 and a beta of 0.20. The firm has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $11.91.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price target on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $15.00.

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.