292,000 Shares in Full Truck Alliance Co. Ltd. (NYSE:YMM) Acquired by AI Squared Management Ltd

AI Squared Management Ltd purchased a new position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 292,000 shares of the company's stock, valued at approximately $3,159,000. Full Truck Alliance makes up approximately 3.2% of AI Squared Management Ltd's portfolio, making the stock its 10th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Investors PTE Ltd. bought a new position in shares of Full Truck Alliance in the 4th quarter worth $6,405,000. Taikang Asset Management Hong Kong Co Ltd raised its holdings in Full Truck Alliance by 354.5% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 1,363,614 shares of the company's stock worth $14,754,000 after buying an additional 1,063,614 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Full Truck Alliance by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock valued at $313,164,000 after buying an additional 295,301 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Full Truck Alliance during the fourth quarter valued at about $1,584,000. Finally, OPTIMAS CAPITAL Ltd bought a new stake in shares of Full Truck Alliance during the fourth quarter worth about $955,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on YMM. Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. HSBC began coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 target price on the stock. JPMorgan Chase & Co. raised Full Truck Alliance from a "neutral" rating to an "overweight" rating and increased their price target for the company from $13.00 to $18.00 in a research report on Thursday, March 6th. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research note on Thursday, March 6th. Finally, Citigroup upped their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $16.40.

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Full Truck Alliance Stock Down 3.0 %

Full Truck Alliance stock traded down $0.40 during mid-day trading on Friday, reaching $12.89. 5,312,715 shares of the company's stock were exchanged, compared to its average volume of 8,871,456. The business's fifty day simple moving average is $12.30 and its 200 day simple moving average is $10.57. Full Truck Alliance Co. Ltd. has a one year low of $6.66 and a one year high of $13.85. The firm has a market capitalization of $13.58 billion, a PE ratio of 30.68 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. Stockholders of record on Monday, April 7th will be paid a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. Full Truck Alliance's payout ratio is presently 39.02%.

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.