Brokerages Set Full Truck Alliance Co. Ltd. (NYSE:YMM) Target Price at $16.40

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) have received a consensus rating of "Buy" from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.40.

A number of research firms have commented on YMM. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research note on Thursday, March 6th. Citigroup boosted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. HSBC assumed coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price objective for the company. Finally, Barclays boosted their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th.

Full Truck Alliance Stock Performance

Shares of NYSE YMM traded up $0.41 during midday trading on Tuesday, reaching $13.36. The stock had a trading volume of 2,346,466 shares, compared to its average volume of 7,674,683. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 31.81 and a beta of 0.25. Full Truck Alliance has a 12-month low of $6.66 and a 12-month high of $13.85. The stock has a 50-day moving average of $12.22 and a 200-day moving average of $10.49.

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Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be given a dividend of $0.1444 per share. This is an increase 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 39.02%.

Institutional Investors Weigh In On Full Truck Alliance

A number of hedge funds have recently bought and sold shares of YMM. GF Fund Management CO. LTD. purchased a new position in shares of Full Truck Alliance in the 4th quarter worth $16,578,000. Burgundy Asset Management Ltd. grew its position in Full Truck Alliance by 1,541.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 915,700 shares of the company's stock worth $9,908,000 after acquiring an additional 859,901 shares in the last quarter. Vise Technologies Inc. purchased a new stake in Full Truck Alliance during the fourth quarter valued at approximately $130,000. Sylebra Capital LLC raised its position in Full Truck Alliance by 64.3% during the fourth quarter. Sylebra Capital LLC now owns 10,693,280 shares of the company's stock valued at $115,701,000 after purchasing an additional 4,184,065 shares during the period. Finally, Wolverine Trading LLC bought a new stake in shares of Full Truck Alliance in the 4th quarter valued at approximately $115,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Full Truck Alliance Company 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.