Pinebridge Investments L.P. Grows Stock Holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Pinebridge Investments L.P. grew its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,004,308 shares of the company's stock after purchasing an additional 147,258 shares during the period. Pinebridge Investments L.P. owned approximately 0.10% of Full Truck Alliance worth $10,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Full Truck Alliance by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,722 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Full Truck Alliance by 20.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after purchasing an additional 3,442 shares during the last quarter. abrdn plc lifted its stake in shares of Full Truck Alliance by 22.6% in the 4th quarter. abrdn plc now owns 22,705 shares of the company's stock valued at $246,000 after purchasing an additional 4,187 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Full Truck Alliance by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company's stock valued at $1,067,000 after purchasing an additional 4,235 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Full Truck Alliance during the 4th quarter worth about $64,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Analyst Ratings Changes

YMM has been the topic of several research reports. Barclays increased their target price on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research note on Thursday, March 6th. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. HSBC started coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price on the stock. Finally, Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $14.80.

Full Truck Alliance Stock Down 0.2 %

NYSE:YMM traded down $0.03 during midday trading on Tuesday, reaching $11.42. The stock had a trading volume of 1,813,608 shares, compared to its average volume of 9,248,439. The firm has a fifty day simple moving average of $11.86 and a two-hundred day simple moving average of $10.95. Full Truck Alliance Co. Ltd. has a 12-month low of $6.66 and a 12-month high of $13.85. The stock has a market cap of $12.03 billion, a P/E ratio of 27.18 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were given a dividend of $0.1444 per share. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, April 7th. Full Truck Alliance's payout ratio is presently 39.02%.

Full Truck Alliance 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.