Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Full Truck Alliance Co. Ltd. has received a consensus rating of "Moderate Buy" from six analysts, with an average target price of $15.00.
• Institutional investors have increased their holdings significantly in Full Truck Alliance, with KADENSA CAPITAL Ltd. boosting its position by 185.0% in the first quarter.
• The company recently announced an annual dividend of $0.096 scheduled for payment on October 27th, representing a 60.0% dividend yield.

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $15.00.

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of Full Truck Alliance in a research note on Saturday, September 27th.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently made changes to their positions in YMM. Mirae Asset Global Investments Co. Ltd. increased its holdings in Full Truck Alliance by 6.2% in the first 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 in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Full Truck Alliance by 66.1% during the first quarter. Harvest Fund Management Co. Ltd now owns 627,958 shares of the company's stock valued at $8,019,000 after buying an additional 249,788 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Full Truck Alliance in the first quarter worth $315,000. KADENSA CAPITAL Ltd boosted its position in Full Truck Alliance by 185.0% in the first quarter. KADENSA CAPITAL Ltd now owns 1,288,269 shares of the company's stock worth $16,451,000 after purchasing an additional 836,189 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Full Truck Alliance in the first quarter worth $2,691,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Price Performance

NYSE:YMM traded down $0.06 during trading hours on Friday, hitting $13.34. The company's stock had a trading volume of 8,016,241 shares, compared to its average volume of 7,172,215. The stock has a fifty day simple moving average of $12.49 and a 200-day simple moving average of $12.08. The company has a market capitalization of $13.95 billion, a P/E ratio of 23.81 and a beta of 0.20. Full Truck Alliance has a twelve month low of $8.20 and a twelve month high of $14.02.

Full Truck Alliance Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Investors 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 of this dividend is Friday, October 10th. Full Truck Alliance's payout ratio is currently 28.57%.

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.

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