Perpetual Ltd Acquires 174,459 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Perpetual Ltd increased its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 9.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,961,428 shares of the company’s stock after acquiring an additional 174,459 shares during the quarter. Perpetual Ltd’s holdings in Full Truck Alliance were worth $25,047,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Truist Financial Corp acquired a new position in shares of Full Truck Alliance during the fourth quarter worth approximately $143,000. Capital Wealth Planning LLC bought a new position in Full Truck Alliance during the fourth quarter worth $1,395,000. SBI Securities Co. Ltd. acquired a new position in Full Truck Alliance during the 4th quarter valued at $64,000. Aigen Investment Management LP raised its stake in Full Truck Alliance by 127.6% during the 4th quarter. Aigen Investment Management LP now owns 38,131 shares of the company’s stock valued at $413,000 after purchasing an additional 21,378 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in Full Truck Alliance by 7.4% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock valued at $281,534,000 after purchasing an additional 1,802,420 shares during the period. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Stock Down 2.9%

NYSE YMM opened at $11.71 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $6.66 and a twelve month high of $13.85. The stock has a market cap of $12.25 billion, a P/E ratio of 23.43 and a beta of 0.20. The company’s 50-day simple moving average is $11.80 and its 200 day simple moving average is $11.71.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $10.00 in a report on Monday, April 14th. Citigroup reduced their price objective on Full Truck Alliance from $16.50 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Finally, Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Full Truck Alliance 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.