Woodline Partners LP Sells 222,337 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Woodline Partners LP reduced its stake in Full Truck Alliance Co. Ltd. by 21.9%, owning approximately $10.11 million worth of shares after selling 222,337 shares during the first quarter.
• Full Truck Alliance has announced a $0.096 dividend to be paid on October 27th, yielding 60.0%, with an ex-dividend date of October 10th.
• Citigroup cut their price target for Full Truck Alliance shares from $16.50 to $16.00, while the company currently has a consensus rating of "Moderate Buy" with an average target price of $15.00.

Woodline Partners LP trimmed its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 21.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 791,903 shares of the company's stock after selling 222,337 shares during the period. Woodline Partners LP owned approximately 0.08% of Full Truck Alliance worth $10,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Full Truck Alliance by 6.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after buying an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Full Truck Alliance by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock valued at $1,087,000 after buying an additional 1,577 shares in the last quarter. Brooklyn Investment Group grew its position 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 valued at $31,000 after purchasing an additional 2,046 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Full Truck Alliance during the 1st quarter valued at $29,000. Finally, US Bancorp DE purchased a new position in shares of Full Truck Alliance during the 1st quarter valued at $40,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Trading Down 1.4%

Shares of YMM traded down $0.19 during mid-day trading on Friday, reaching $13.60. 4,687,716 shares of the stock traded hands, compared to its average volume of 11,505,589. The firm has a fifty day moving average price of $12.19 and a 200 day moving average price of $12.00. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 21.97 and a beta of 0.21. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $7.09 and a 1 year high of $13.85.

Full Truck Alliance Cuts Dividend

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

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.