Softbank Group CORP. Purchases 3,109,250 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Softbank Group CORP. lifted its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 279.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,220,001 shares of the company's stock after acquiring an additional 3,109,250 shares during the quarter. Full Truck Alliance comprises approximately 0.2% of Softbank Group CORP.'s holdings, making the stock its 13th largest position. Softbank Group CORP. owned about 0.40% of Full Truck Alliance worth $45,660,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in YMM. IMC Chicago LLC bought a new stake in shares of Full Truck Alliance during the 4th quarter worth $263,000. Barclays PLC acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth about $3,566,000. Maple Brown Abbott Ltd grew its holdings in Full Truck Alliance by 104.8% in the 4th quarter. Maple Brown Abbott Ltd now owns 117,472 shares of the company's stock valued at $1,271,000 after buying an additional 60,100 shares during the last quarter. Truist Financial Corp bought a new position in Full Truck Alliance in the 4th quarter worth approximately $143,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Full Truck Alliance by 31.5% during the third quarter. Franklin Resources Inc. now owns 277,966 shares of the company's stock worth $2,613,000 after buying an additional 66,638 shares during the last quarter. 39.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. 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 research note on Wednesday, February 26th. Barclays lifted their target price on 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. Finally, HSBC began coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price target for the company. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $14.80.

Full Truck Alliance Trading Down 1.0%

NYSE:YMM traded down $0.12 during mid-day trading on Wednesday, hitting $11.98. The company's stock had a trading volume of 7,372,056 shares, compared to its average volume of 9,102,827. The stock has a fifty day moving average of $11.77 and a 200-day moving average of $11.27. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 28.46 and a beta of 0.20. Full Truck Alliance Co. Ltd. has a fifty-two week low of $6.66 and a fifty-two week high of $13.85.

Full Truck Alliance Increases Dividend

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

About Full Truck Alliance

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.