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

Pinpoint Asset Management Ltd raised its position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 60.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,287,153 shares of the company's stock after buying an additional 2,374,659 shares during the period. Full Truck Alliance makes up about 12.5% of Pinpoint Asset Management Ltd's holdings, making the stock its 2nd biggest holding. Pinpoint Asset Management Ltd owned approximately 0.60% of Full Truck Alliance worth $68,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of YMM. Charles Schwab Investment Management Inc. grew its stake in Full Truck Alliance by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company's stock worth $8,217,000 after purchasing an additional 100,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Full Truck Alliance during the 3rd quarter worth approximately $4,218,000. State Street Corp grew its position 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. XTX Topco Ltd increased its holdings in shares of Full Truck Alliance by 318.2% in the 3rd quarter. XTX Topco Ltd now owns 164,281 shares of the company's stock valued at $1,480,000 after acquiring an additional 125,001 shares during 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 approximately $3,525,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on YMM. Barclays raised their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Citigroup boosted their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research report on Thursday, March 6th. Finally, HSBC initiated coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $16.40.

Full Truck Alliance Stock Down 6.8 %

YMM stock traded down $0.71 during trading on Wednesday, reaching $9.66. 10,169,704 shares of the company's stock were exchanged, compared to its average volume of 9,047,520. The firm has a market cap of $10.17 billion, a PE ratio of 22.91 and a beta of 0.19. Full Truck Alliance Co. Ltd. has a 1-year low of $6.66 and a 1-year high of $13.85. The company's fifty day moving average price is $12.35 and its 200-day moving average price is $10.81.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be issued a $0.1444 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a yield of 0.9%. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio is presently 39.02%.

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.