WT Asset Management Ltd Boosts Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

WT Asset Management Ltd lifted its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 25.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 698,939 shares of the company's stock after buying an additional 140,139 shares during the period. Full Truck Alliance makes up about 1.0% of WT Asset Management Ltd's investment portfolio, making the stock its 21st biggest position. WT Asset Management Ltd owned approximately 0.07% of Full Truck Alliance worth $8,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of YMM. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 worth $311,000 after purchasing an additional 1,406 shares during the period. Diversified Trust Co purchased a new stake in Full Truck Alliance during the first quarter valued at approximately $589,000. Perpetual Ltd raised its position in Full Truck Alliance by 9.8% in the first quarter. Perpetual Ltd now owns 1,961,428 shares of the company's stock worth $25,047,000 after acquiring an additional 174,459 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Full Truck Alliance during the 1st quarter worth $299,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Full Truck Alliance during the 1st quarter valued at $222,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

Full Truck Alliance stock remained flat at $12.08 during mid-day trading on Friday. 3,611,551 shares of the company traded hands, compared to its average volume of 8,676,700. The company has a 50 day moving average of $11.94 and a 200 day moving average of $11.74. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 24.16 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.66 and a one year high of $13.85.

Analyst Upgrades and Downgrades

YMM has been the topic of a number of recent research reports. Barclays raised their target price on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research note on Thursday, March 6th. Citigroup lowered their price objective on 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. Finally, 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 report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.