Full Truck Alliance (NYSE:YMM) Hits New 52-Week High - Time to Buy?

Key Points

• Full Truck Alliance's share price reached a new 52-week high of $13.95, with over 2.7 million shares traded on the day.
• Citigroup has revised its target price for the stock from $16.50 to $16.00, maintaining a "buy" rating, while the average price target is $15.00.
• The company recently declared an annual dividend of $0.096 per share, with a yield of 60% and a dividend payout ratio of 28.57%.

Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.95 and last traded at $13.83, with a volume of 2742018 shares. The stock had previously closed at $13.54.

Full Truck Alliance Stock Down 1.3%

The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 24.27 and a beta of 0.21. The firm has a fifty day moving average price of $12.31 and a 200-day moving average price of $12.06.

Full Truck Alliance Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be issued a $0.096 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 60.0%. Full Truck Alliance's dividend payout ratio (DPR) is presently 28.57%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. purchased a new position in Full Truck Alliance in the first quarter valued at about $29,000. Brooklyn Investment Group increased its position in shares of Full Truck Alliance by 495.4% during the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after acquiring an additional 2,046 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Full Truck Alliance during the first quarter worth about $40,000. Hantz Financial Services Inc. increased its position in shares of 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 acquiring an additional 3,274 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Full Truck Alliance by 274.9% during the second 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 owned by hedge funds and other 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.