Full Truck Alliance (NYSE:YMM) Hits New 12-Month High - Here's What Happened

Key Points

• Full Truck Alliance shares reached a new 52-week high at $14.02, with over 3.9 million shares traded on Monday.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for the stock, with an average price target of $15.00.
• The company recently declared a dividend of $0.096 per share, reflecting a substantial yield of 60.0%.

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $14.02 and last traded at $14.02, with a volume of 3948014 shares changing hands. The stock had previously closed at $13.38.

Wall Street Analysts Forecast Growth

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

Full Truck Alliance Price Performance

The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 24.96 and a beta of 0.20. The company's fifty day simple moving average is $12.49 and its two-hundred day simple moving average is $12.06.

Full Truck Alliance Cuts Dividend

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

Hedge Funds Weigh In On Full Truck Alliance

Large investors have recently modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in Full Truck Alliance in the 1st quarter worth approximately $29,000. Brooklyn Investment Group raised its position in shares of 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 buying an additional 2,046 shares in the last quarter. US Bancorp DE bought a new stake in Full Truck Alliance during the first quarter valued at $40,000. Hantz Financial Services Inc. grew its position in Full Truck Alliance by 642.0% during the second quarter. Hantz Financial Services Inc. now owns 3,784 shares of the company's stock worth $45,000 after buying an additional 3,274 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Full Truck Alliance by 274.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company's stock worth $46,000 after acquiring an additional 2,845 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors.

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.

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