Woodline Partners LP Buys New Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Woodline Partners LP bought a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,014,240 shares of the company's stock, valued at approximately $10,974,000. Woodline Partners LP owned about 0.10% of Full Truck Alliance at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance in the 4th quarter worth $64,000. Townsquare Capital LLC bought a new position in shares of Full Truck Alliance during the 4th quarter valued at about $111,000. Truist Financial Corp bought a new position in shares of Full Truck Alliance during the 4th quarter valued at about $143,000. Jasper Ridge Partners L.P. bought a new position in shares of Full Truck Alliance during the 4th quarter valued at about $149,000. Finally, Savant Capital LLC bought a new position in shares of Full Truck Alliance in the 4th quarter valued at about $194,000. 39.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

YMM has been the topic of a number of research reports. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a research report on Thursday, March 6th. Barclays boosted their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Citigroup cut their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Finally, Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Up 3.9%

NYSE:YMM traded up $0.46 on Wednesday, hitting $12.24. The stock had a trading volume of 4,127,976 shares, compared to its average volume of 9,022,470. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 29.06 and a beta of 0.20. The company has a fifty day moving average price of $11.57 and a two-hundred day moving average price of $11.36. Full Truck Alliance Co. Ltd. has a 1-year low of $6.66 and a 1-year high of $13.85.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were issued a $0.1444 dividend. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, April 7th. Full Truck Alliance's dividend payout ratio is currently 32.00%.

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.