E Fund Management Co. Ltd. reduced its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,845,117 shares of the company's stock after selling 377,761 shares during the quarter. Full Truck Alliance accounts for approximately 2.6% of E Fund Management Co. Ltd.'s investment portfolio, making the stock its 7th biggest holding. E Fund Management Co. Ltd. owned approximately 0.46% of Full Truck Alliance worth $52,424,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Alkeon Capital Management LLC increased its holdings in Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company's stock worth $218,732,000 after acquiring an additional 921,820 shares in the last quarter. First Beijing Investment Ltd acquired a new stake in shares of Full Truck Alliance in the third quarter valued at about $123,804,000. Bamco Inc. NY increased its stake in shares of Full Truck Alliance by 1.2% during the third quarter. Bamco Inc. NY now owns 10,405,899 shares of the company's stock worth $93,757,000 after purchasing an additional 125,853 shares in the last quarter. Empower Harvest Management Services Inc. purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth about $97,058,000. Finally, North of South Capital LLP raised its position in shares of Full Truck Alliance by 74.8% during the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company's stock worth $61,593,000 after purchasing an additional 2,436,130 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.
Full Truck Alliance Price Performance
Full Truck Alliance stock traded down $0.97 during trading on Monday, reaching $12.21. 9,772,136 shares of the company were exchanged, compared to its average volume of 7,969,808. The stock's 50 day simple moving average is $11.63 and its two-hundred day simple moving average is $9.98. The company has a market capitalization of $12.86 billion, a P/E ratio of 29.06 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 52-week low of $6.57 and a 52-week high of $13.53.
Full Truck Alliance Increases Dividend
The business also recently declared an annual dividend, which will be paid on Friday, April 18th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's payout ratio is currently 46.34%.
Wall Street Analyst Weigh In
Several research firms have commented on YMM. HSBC initiated coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 price objective for the company. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $13.00 to $18.00 in a report on Thursday. Barclays lifted 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 research note on Monday. Finally, Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a research report on Thursday. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $16.40.
Check Out Our Latest Stock Report on Full Truck Alliance
Full Truck Alliance Company Profile
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Free Report)
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.
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