ABS Direct Equity Fund LLC Purchases 130,900 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

ABS Direct Equity Fund LLC boosted its holdings in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 36.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 487,400 shares of the company's stock after acquiring an additional 130,900 shares during the quarter. Full Truck Alliance accounts for about 4.9% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 4th largest holding. ABS Direct Equity Fund LLC's holdings in Full Truck Alliance were worth $4,391,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of YMM. Barclays PLC acquired a new stake in Full Truck Alliance in the 3rd quarter worth approximately $3,566,000. Nomura Asset Management Co. Ltd. lifted its holdings in Full Truck Alliance by 9.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 5,156,188 shares of the company's stock worth $46,457,000 after purchasing an additional 444,884 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Full Truck Alliance in the 3rd quarter worth approximately $3,525,000. XTX Topco Ltd lifted its holdings in Full Truck Alliance by 318.2% in the 3rd quarter. XTX Topco Ltd now owns 164,281 shares of the company's stock worth $1,480,000 after purchasing an additional 125,001 shares during the last quarter. Finally, State Street Corp increased its position in Full Truck Alliance by 6.4% in the 3rd quarter. State Street Corp now owns 2,609,508 shares of the company's stock worth $23,512,000 after buying an additional 155,834 shares during the period. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Down 2.9 %

NYSE:YMM traded down $0.36 during trading hours on Tuesday, reaching $11.92. The company had a trading volume of 15,617,566 shares, compared to its average volume of 8,821,566. The stock has a 50-day moving average of $9.40 and a two-hundred day moving average of $8.49. Full Truck Alliance Co. Ltd. has a one year low of $5.70 and a one year high of $12.47. The firm has a market capitalization of $12.56 billion, a PE ratio of 28.38 and a beta of 0.28.

Analysts Set New Price Targets

Several research analysts have commented on YMM shares. Citigroup lifted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays lowered their price objective on Full Truck Alliance from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Friday, August 23rd.

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.