Full Truck Alliance Co. Ltd. (NYSE:YMM) Holdings Decreased by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd decreased its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 27.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,023,100 shares of the company’s stock after selling 392,100 shares during the period. Full Truck Alliance makes up about 4.9% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 6th biggest holding. IvyRock Asset Management HK Ltd owned approximately 0.10% of Full Truck Alliance worth $11,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in YMM. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Full Truck Alliance by 13.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,540 shares of the company’s stock worth $924,000 after buying an additional 11,894 shares during the period. Charles Schwab Investment Management Inc. increased its position in Full Truck Alliance by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock valued at $8,217,000 after purchasing an additional 100,080 shares during the period. Citigroup Inc. raised its holdings in Full Truck Alliance by 6.0% in the 3rd quarter. Citigroup Inc. now owns 483,469 shares of the company’s stock worth $4,356,000 after purchasing an additional 27,303 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Full Truck Alliance by 1.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 545,517 shares of the company’s stock valued at $4,910,000 after purchasing an additional 5,660 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Full Truck Alliance by 4,028.6% in the third quarter. Quantbot Technologies LP now owns 121,258 shares of the company’s stock worth $1,093,000 after buying an additional 118,321 shares in the last quarter. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock opened at $13.34 on Tuesday. The company has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $10.43. Full Truck Alliance Co. Ltd. has a 52-week low of $6.66 and a 52-week high of $13.85. The stock has a market capitalization of $14.05 billion, a PE ratio of 31.75 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.1444 per share. This represents a yield of 0.9%. This is an increase 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 currently 39.02%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on YMM. Citigroup upped their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a research note on Thursday, March 6th. Barclays lifted their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, 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 on the stock. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $16.40.

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.