Full Truck Alliance (NYSE:YMM) Shares Down 3.8% - Time to Sell?

Key Points

• Full Truck Alliance shares fell 3.8% to about $8.51 in light trading, with volume down 97% from the average session.
• Analyst sentiment remains favorable: the stock has a “Moderate Buy” consensus rating, six Buy ratings and three Holds, with an average price target of $11.30.
• The company exceeded quarterly expectations, reporting $0.20 in EPS and $497.73 million in revenue, and declared a quarterly dividend of $0.084 per share—an annualized yield of about 3.9%.

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) was down 3.8% during mid-day trading on Wednesday. The stock traded as low as $8.60 and last traded at $8.5050. Approximately 261,352 shares traded hands during trading, a decline of 97% from the average session volume of 7,808,854 shares. The stock had previously closed at $8.84.

Analyst Ratings Changes

YMM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $8.60 to $10.00 in a report on Monday, June 29th. UBS Group restated a "buy" rating and set a $13.36 price target on shares of Full Truck Alliance in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Full Truck Alliance from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 13th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.30.

Full Truck Alliance Price Performance

The firm has a market cap of $8.88 billion, a PE ratio of 14.43, a P/E/G ratio of 0.79 and a beta of 0.22. The business has a fifty day moving average price of $8.49 and a two-hundred day moving average price of $8.62.

Full Truck Alliance (NYSE:YMM - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Full Truck Alliance had a return on equity of 10.68% and a net margin of 33.07%. The firm had revenue of $497.73 million for the quarter, compared to analyst estimates of $463.13 million. As a group, sell-side analysts forecast that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.71 EPS for the current fiscal year.

Full Truck Alliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be given a $0.0840 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 14th. Full Truck Alliance's dividend payout ratio is 57.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new position in Full Truck Alliance in the first quarter valued at about $25,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth about $39,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Full Truck Alliance by 480.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,826 shares of the company's stock worth $73,000 after purchasing an additional 5,651 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Full Truck Alliance by 61.1% during the 2nd quarter. QRG Capital Management Inc. now owns 21,039 shares of the company's stock worth $171,000 after purchasing an additional 7,976 shares in the last quarter. Finally, E. Ohman J or Asset Management AB acquired a new stake in shares of Full Truck Alliance during the 2nd quarter valued at about $349,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd. is a China-based digital freight platform that connects shippers with truck drivers and logistics companies. The company operates through its Yunmanman and Huochebang platforms, which help users find transportation capacity, arrange shipments and manage freight transactions through online tools.

Its services are designed to improve the efficiency of China's road freight industry by matching cargo with available trucks and providing information and transaction support.

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