IvyRock Asset Management HK Ltd Sells 392,100 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

IvyRock Asset Management HK Ltd decreased its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,023,100 shares of the company's stock after selling 392,100 shares during the quarter. Full Truck Alliance accounts for about 4.9% of IvyRock Asset Management HK Ltd's portfolio, making the stock its 6th largest position. IvyRock Asset Management HK Ltd owned approximately 0.10% of Full Truck Alliance worth $11,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in YMM. Empower Harvest Management Services Inc. acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $97,058,000. Davis Selected Advisers bought a new position in Full Truck Alliance during the fourth quarter worth about $58,432,000. North of South Capital LLP lifted its holdings in Full Truck Alliance by 74.8% during the fourth quarter. North of South Capital LLP now owns 5,692,489 shares of the company's stock worth $61,593,000 after acquiring an additional 2,436,130 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its stake in Full Truck Alliance by 7.4% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company's stock valued at $281,534,000 after acquiring an additional 1,802,420 shares during the period. Finally, Taikang Asset Management Hong Kong Co Ltd increased its holdings in shares of Full Truck Alliance by 354.5% in 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 acquiring an additional 1,063,614 shares in the last quarter. Institutional investors own 39.02% of the company's stock.

Remove Ads

Analysts Set New Price Targets

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

Full Truck Alliance Stock Down 3.0 %

Shares of YMM stock traded down $0.40 during trading on Friday, reaching $12.89. The company's stock had a trading volume of 5,312,715 shares, compared to its average volume of 8,871,456. Full Truck Alliance Co. Ltd. has a one year low of $6.66 and a one year high of $13.85. The business has a fifty day moving average price of $12.30 and a 200-day moving average price of $10.57. The company has a market cap of $13.58 billion, a price-to-earnings ratio of 30.68 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be given a dividend of $0.1444 per share. The ex-dividend date is Monday, April 7th. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. This represents a yield of 0.9%. Full Truck Alliance's payout ratio is 39.02%.

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.