Stock Traders Purchase Large Volume of Full Truck Alliance Put Options (NYSE:YMM)

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders bought 6,319 put options on the stock. This is an increase of 218% compared to the average volume of 1,990 put options.

Full Truck Alliance Stock Down 3.0 %

Shares of Full Truck Alliance stock traded down $0.40 during trading on Friday, reaching $12.89. 5,312,715 shares of the company were exchanged, compared to its average volume of 8,871,456. The business has a 50-day moving average price of $12.30 and a 200-day moving average price of $10.55. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 30.68 and a beta of 0.25. Full Truck Alliance has a twelve month low of $6.66 and a twelve month high of $13.85.

Full Truck Alliance Increases Dividend

The business 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 a positive change from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date is Monday, April 7th. Full Truck Alliance's payout ratio is presently 39.02%.

Institutional Trading of Full Truck Alliance

A number of hedge funds have recently modified their holdings of YMM. SBI Securities Co. Ltd. acquired a new position in Full Truck Alliance during the fourth quarter valued at approximately $64,000. Townsquare Capital LLC bought a new position in shares of Full Truck Alliance during the fourth quarter worth $111,000. Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $115,000. Vise Technologies Inc. bought a new stake in shares of Full Truck Alliance in the 4th quarter valued at $130,000. Finally, Truist Financial Corp acquired a new stake in Full Truck Alliance during the 4th quarter worth $143,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

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.