Krane Funds Advisors LLC Sells 4,667,880 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Krane Funds Advisors LLC cut its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,276,137 shares of the company's stock after selling 4,667,880 shares during the period. Full Truck Alliance comprises approximately 9.4% of Krane Funds Advisors LLC's investment portfolio, making the stock its 3rd biggest holding. Krane Funds Advisors LLC owned approximately 2.02% of Full Truck Alliance worth $230,208,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Full Truck Alliance by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company's stock worth $8,217,000 after buying an additional 100,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Full Truck Alliance in the 3rd quarter valued at $4,218,000. State Street Corp raised its stake in Full Truck Alliance by 6.4% during the third 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. XTX Topco Ltd increased its position in Full Truck Alliance by 318.2% during the 3rd quarter. XTX Topco Ltd now owns 164,281 shares of the company's stock worth $1,480,000 after purchasing an additional 125,001 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Full Truck Alliance during the 3rd quarter valued at $3,525,000. Institutional investors own 39.02% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on YMM. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. HSBC started coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target for the company. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Barclays upped their price target on 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. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Buy" and a consensus price target of $16.40.

Full Truck Alliance Trading Down 5.6 %

NYSE YMM traded down $0.58 during trading hours on Friday, hitting $9.66. 32,402,179 shares of the company's stock were exchanged, compared to its average volume of 9,201,656. Full Truck Alliance Co. Ltd. has a 1-year low of $6.66 and a 1-year high of $13.85. The stock has a 50-day simple moving average of $12.26 and a 200 day simple moving average of $10.85. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 22.99 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be given a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's payout ratio is presently 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.