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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new stake in Full Truck Alliance in the 1st quarter valued at approximately $29,000. Brooklyn Investment Group raised its stake 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 in the last quarter. US Bancorp DE bought a new position in shares of Full Truck Alliance in the first quarter valued at $40,000. Summit Securities Group LLC grew its stake in shares of Full Truck Alliance by 1,466.6% in the first quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock valued at $64,000 after buying an additional 4,693 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new position in Full Truck Alliance during the fourth quarter worth $115,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their target price 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Stock Up 1.7%

Shares of YMM stock traded up $0.24 during trading on Wednesday, reaching $13.78. 3,321,041 shares of the company's stock were exchanged, compared to its average volume of 9,107,114. The stock has a market capitalization of $14.41 billion, a PE ratio of 24.64 and a beta of 0.21. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $7.43 and a twelve month high of $13.95. The firm's fifty day moving average price is $12.24 and its 200-day moving average price is $12.03.

Full Truck Alliance Cuts Dividend

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