Davis Selected Advisers Buys New Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Davis Selected Advisers purchased a new stake in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,400,391 shares of the company's stock, valued at approximately $58,432,000. Davis Selected Advisers owned about 0.51% of Full Truck Alliance as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of YMM. NS Partners Ltd purchased a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $1,790,000. Greenwoods Asset Management Hong Kong Ltd. lifted its stake in Full Truck Alliance by 7.4% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company's stock worth $281,534,000 after purchasing an additional 1,802,420 shares in the last quarter. Aigen Investment Management LP boosted its position in shares of Full Truck Alliance by 127.6% during the fourth quarter. Aigen Investment Management LP now owns 38,131 shares of the company's stock worth $413,000 after buying an additional 21,378 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Full Truck Alliance in the fourth quarter valued at $64,000. Finally, Capital Wealth Planning LLC purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at $1,395,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on YMM shares. HSBC started coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target on the stock. Citigroup boosted their price target 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. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised Full Truck Alliance from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Finally, Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $16.40.

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Full Truck Alliance Price Performance

Shares of Full Truck Alliance stock traded up $0.08 during trading on Wednesday, hitting $12.66. 5,007,770 shares of the stock were exchanged, compared to its average volume of 8,026,295. The firm's 50-day moving average price is $11.69 and its 200 day moving average price is $10.05. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 30.13 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 12-month low of $6.66 and a 12-month high of $13.53.

Full Truck Alliance Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, April 18th. Stockholders of record on Monday, April 7th will be given a dividend of $0.1444 per share. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance's dividend payout ratio is currently 46.34%.

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.