Full Truck Alliance (NYSE:YMM) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. downgraded shares of Full Truck Alliance (NYSE:YMM - Free Report) from an overweight rating to a neutral rating in a research note released on Monday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $10.00 price objective on the stock, down from their prior price objective of $18.00.

A number of other research analysts also recently issued reports on the stock. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a research report on Thursday, March 6th. Barclays upped their price target on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, HSBC initiated coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price target for the company. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $14.80.

Full Truck Alliance Stock Performance

YMM stock traded up $0.05 during trading on Monday, reaching $10.07. 7,231,383 shares of the company traded hands, compared to its average volume of 9,335,093. The business has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $10.87. Full Truck Alliance has a 12 month low of $6.66 and a 12 month high of $13.85. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 23.96 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were paid a $0.1444 dividend. 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 of this dividend was Monday, April 7th. Full Truck Alliance's dividend payout ratio (DPR) is presently 39.02%.

Hedge Funds Weigh In On Full Truck Alliance

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. acquired a new stake in shares of Full Truck Alliance in the first quarter worth $315,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Full Truck Alliance by 17.5% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 272,643 shares of the company's stock valued at $3,482,000 after buying an additional 40,588 shares during the period. Union Bancaire Privee UBP SA lifted its holdings in shares of Full Truck Alliance by 373.1% in the 1st quarter. Union Bancaire Privee UBP SA now owns 294,422 shares of the company's stock valued at $3,628,000 after buying an additional 232,190 shares during the period. SG Americas Securities LLC boosted its stake in shares of Full Truck Alliance by 244.4% in the first quarter. SG Americas Securities LLC now owns 2,463,812 shares of the company's stock worth $31,463,000 after buying an additional 1,748,386 shares during the last quarter. Finally, TB Alternative Assets Ltd. raised its position in Full Truck Alliance by 31.4% during the first quarter. TB Alternative Assets Ltd. now owns 530,454 shares of the company's stock valued at $6,774,000 after acquiring an additional 126,688 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company's stock.

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.