Norges Bank bought a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,622,839 shares of the company’s stock, valued at approximately $92,523,000.
A number of other hedge funds have also added to or reduced their stakes in the business. First Beijing Investment Ltd grew its position in Full Truck Alliance by 73.8% in the third quarter. First Beijing Investment Ltd now owns 68,645,580 shares of the company’s stock valued at $890,333,000 after purchasing an additional 29,150,926 shares in the last quarter. Invesco Ltd. grew its position in Full Truck Alliance by 66.4% in the third quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock valued at $703,277,000 after purchasing an additional 21,628,993 shares in the last quarter. Schroder Investment Management Group grew its position in Full Truck Alliance by 2,789.6% in the third quarter. Schroder Investment Management Group now owns 33,333,051 shares of the company’s stock valued at $432,330,000 after purchasing an additional 32,179,501 shares in the last quarter. Vanguard Group Inc. grew its position in Full Truck Alliance by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 33,004,634 shares of the company’s stock valued at $354,140,000 after purchasing an additional 461,147 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its position in Full Truck Alliance by 26.4% in the third quarter. Krane Funds Advisors LLC now owns 28,165,473 shares of the company’s stock valued at $352,068,000 after purchasing an additional 5,880,548 shares in the last quarter. Institutional investors own 39.02% of the company’s stock.
Full Truck Alliance Price Performance
Shares of YMM stock opened at $8.58 on Friday. The stock has a market cap of $8.95 billion, a P/E ratio of 15.06, a P/E/G ratio of 0.81 and a beta of 0.30. The company has a fifty day moving average price of $8.61 and a two-hundred day moving average price of $9.63. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $8.04 and a one year high of $14.07.
Full Truck Alliance Announces Dividend
The business also recently announced a dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a dividend of $0.084 per share. This represents a dividend yield of 201.0%. The ex-dividend date was Wednesday, April 8th. Full Truck Alliance’s dividend payout ratio (DPR) is currently 24.56%.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Citigroup reiterated a “buy” rating on shares of Full Truck Alliance in a research note on Monday, April 20th. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from an “underweight” rating to a “neutral” rating and set a $8.00 price target for the company in a research note on Wednesday, April 1st. Bank of America assumed coverage on shares of Full Truck Alliance in a research note on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price target for the company. Daiwa Securities Group cut shares of Full Truck Alliance from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Friday, March 13th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Full Truck Alliance in a research note on Thursday, March 12th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Full Truck Alliance currently has an average rating of “Hold” and a consensus price target of $10.76.
Read Our Latest Analysis on Full Truck Alliance
Full Truck Alliance Profile
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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