WT Asset Management Ltd Trims Stake in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

WT Asset Management Ltd lessened its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 17.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 576,195 shares of the company's stock after selling 122,744 shares during the quarter. Full Truck Alliance comprises 0.5% of WT Asset Management Ltd's portfolio, making the stock its 20th largest position. WT Asset Management Ltd owned approximately 0.06% of Full Truck Alliance worth $6,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of YMM. Atlas Capital Advisors Inc. purchased a new stake in Full Truck Alliance in the first quarter worth about $29,000. Brooklyn Investment Group grew its holdings in Full Truck Alliance by 495.4% in the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after purchasing an additional 2,046 shares during the period. US Bancorp DE purchased a new stake in Full Truck Alliance in the first quarter worth about $40,000. Summit Securities Group LLC grew its holdings in 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 worth $64,000 after purchasing an additional 4,693 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Full Truck Alliance by 12,795.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock worth $142,000 after purchasing an additional 11,004 shares during the period. Hedge funds and other institutional investors own 39.02% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (b-)" rating on shares of Full Truck Alliance in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Performance

Shares of NYSE YMM opened at $13.34 on Friday. The firm's 50 day moving average price is $12.49 and its 200-day moving average price is $12.08. The company has a market cap of $13.95 billion, a PE ratio of 23.81 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $8.20 and a 52-week high of $14.02.

Full Truck Alliance Cuts Dividend

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

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.

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