Softbank Group CORP. Raises Stock Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Softbank Group CORP. grew its holdings in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 279.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,220,001 shares of the company's stock after buying an additional 3,109,250 shares during the period. Full Truck Alliance accounts for approximately 0.2% of Softbank Group CORP.'s holdings, making the stock its 13th biggest position. Softbank Group CORP. owned 0.40% of Full Truck Alliance worth $45,660,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of YMM. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 worth $1,128,000 after purchasing an additional 1,722 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Full Truck Alliance by 20.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after buying an additional 3,442 shares during the last quarter. abrdn plc increased its position in shares of Full Truck Alliance by 22.6% during the fourth quarter. abrdn plc now owns 22,705 shares of the company's stock valued at $246,000 after acquiring an additional 4,187 shares in the last quarter. LMR Partners LLP raised its holdings in Full Truck Alliance by 25.4% in the 4th quarter. LMR Partners LLP now owns 27,881 shares of the company's stock worth $302,000 after acquiring an additional 5,646 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Full Truck Alliance in the 4th quarter valued at approximately $64,000. 39.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research note on Thursday, March 6th. HSBC initiated coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target on the stock. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Finally, Barclays lifted their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.80.

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock traded down $0.14 on Monday, hitting $12.21. 6,495,331 shares of the company's stock were exchanged, compared to its average volume of 9,140,275. The stock has a market capitalization of $12.77 billion, a PE ratio of 29.07 and a beta of 0.20. Full Truck Alliance Co. Ltd. has a 1 year low of $6.66 and a 1 year high of $13.85. The company has a 50-day simple moving average of $11.79 and a 200-day simple moving average of $11.24.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were paid a $0.1444 dividend. The ex-dividend date was Monday, April 7th. This represents a dividend yield of 0.9%. 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%.

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.