Full Truck Alliance Co. Ltd. (NYSE:YMM) Receives $14.80 Average Price Target from Brokerages

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) has been given an average recommendation of "Buy" by the six research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.80.

Several brokerages recently commented on YMM. Barclays lifted their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a report on Thursday, March 6th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Finally, HSBC initiated coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price target for the company.

Hedge Funds Weigh In On Full Truck Alliance

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Full Truck Alliance by 6.4% in the 3rd quarter. State Street Corp now owns 2,609,508 shares of the company's stock worth $23,512,000 after acquiring an additional 155,834 shares in the last quarter. Barclays PLC bought a new position in shares of Full Truck Alliance during the third quarter valued at approximately $3,566,000. Geode Capital Management LLC lifted its holdings in shares of Full Truck Alliance by 3.7% during the third quarter. Geode Capital Management LLC now owns 118,404 shares of the company's stock valued at $1,067,000 after purchasing an additional 4,235 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Full Truck Alliance in the 3rd quarter worth approximately $207,000. Finally, Tidal Investments LLC purchased a new stake in shares of Full Truck Alliance in the 3rd quarter worth approximately $1,258,000. Institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

YMM stock traded up $0.33 during trading on Friday, hitting $11.41. 6,942,558 shares of the company traded hands, compared to its average volume of 9,327,788. The company has a 50-day moving average of $11.94 and a 200-day moving average of $10.89. The firm has a market capitalization of $12.02 billion, a PE ratio of 27.13 and a beta of 0.19. Full Truck Alliance has a 1 year low of $6.66 and a 1 year high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 17th. Investors of record on Monday, April 7th were given a dividend of $0.1444 per share. The ex-dividend date was Monday, April 7th. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. Full Truck Alliance's payout ratio is currently 39.02%.

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.