Polymer Capital Management HK LTD Sells 38,328 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Polymer Capital Management HK LTD lowered its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,672 shares of the company's stock after selling 38,328 shares during the quarter. Polymer Capital Management HK LTD's holdings in Full Truck Alliance were worth $4,660,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Federated Hermes Inc. raised its stake in shares of Full Truck Alliance by 67.0% during the fourth quarter. Federated Hermes Inc. now owns 1,327,381 shares of the company's stock worth $14,362,000 after buying an additional 532,549 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Full Truck Alliance during the 4th quarter worth $537,000. Pinpoint Asset Management Ltd raised its position in shares of Full Truck Alliance by 60.7% during the 4th quarter. Pinpoint Asset Management Ltd now owns 6,287,153 shares of the company's stock valued at $68,027,000 after acquiring an additional 2,374,659 shares during the last quarter. Prudential PLC acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $263,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Full Truck Alliance in the 4th quarter worth $300,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on YMM shares. JPMorgan Chase & Co. upgraded Full Truck Alliance from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $13.00 to $18.00 in a report on Thursday, March 6th. HSBC began coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price target for the company. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Barclays lifted 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. One research 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's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $16.40.

Full Truck Alliance Stock Performance

NYSE YMM traded down $0.48 during trading hours on Friday, reaching $9.75. 23,948,791 shares of the company's stock were exchanged, compared to its average volume of 9,177,849. Full Truck Alliance Co. Ltd. has a one year low of $6.66 and a one year high of $13.85. The company's 50-day moving average is $12.30 and its two-hundred day moving average is $10.84. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 23.18 and a beta of 0.19.

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 dividend of $0.1444 per share. This represents a dividend yield of 0.9%. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. Full Truck Alliance's dividend payout ratio (DPR) 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.