Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $8.80, but opened at $8.27. Full Truck Alliance shares last traded at $8.4550, with a volume of 2,391,375 shares.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Nomura set a $11.00 target price on Full Truck Alliance in a report on Monday, June 15th. UBS Group reissued a “buy” rating and issued a $13.36 target price on shares of Full Truck Alliance in a research note on Wednesday, August 5th. Bank of America assumed coverage on shares of Full Truck Alliance in a research note on Tuesday, May 5th. They set a “buy” rating and a $11.30 price target for the company. Weiss Ratings raised shares of Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.30.
Check Out Our Latest Stock Report on YMM
Full Truck Alliance Stock Down 2.0%
Full Truck Alliance Announces Dividend
The firm also recently disclosed a dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a $0.084 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a yield of 201.0%. Full Truck Alliance’s payout ratio is 28.07%.
Hedge Funds Weigh In On Full Truck Alliance
Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Full Truck Alliance by 66.4% in the 3rd quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock valued at $703,277,000 after acquiring an additional 21,628,993 shares during the period. Schroder Investment Management Group grew its position in shares of Full Truck Alliance by 43.6% in the fourth quarter. Schroder Investment Management Group now owns 47,859,035 shares of the company’s stock valued at $513,527,000 after purchasing an additional 14,525,984 shares during the period. OLP CAPITAL MANAGEMENT Ltd grew its position in shares of Full Truck Alliance by 198.7% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 15,007,851 shares of the company’s stock valued at $161,034,000 after purchasing an additional 9,983,779 shares during the period. Norges Bank purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth about $92,523,000. Finally, Wellington Management Group LLP acquired a new position in shares of Full Truck Alliance during the 4th quarter worth about $87,896,000. 39.02% of the stock is currently owned by institutional investors.
About Full Truck Alliance
Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.
The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.
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