Veritas Asset Management LLP Takes $789,000 Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Veritas Asset Management LLP purchased a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 72,884 shares of the company's stock, valued at approximately $789,000.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Full Truck Alliance by 109.5% in the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company's stock worth $90,000 after purchasing an additional 5,226 shares in the last quarter. Truist Financial Corp bought a new stake in Full Truck Alliance in the 4th quarter worth about $143,000. Aigen Investment Management LP purchased a new position in Full Truck Alliance in the 3rd quarter worth about $151,000. Savant Capital LLC bought a new position in Full Truck Alliance during the 4th quarter valued at about $194,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Full Truck Alliance during the 3rd quarter valued at about $207,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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 report on Tuesday, December 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and increased their price target for the company from $12.00 to $13.00 in a report on Wednesday, December 11th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday. Finally, HSBC initiated coverage on Full Truck Alliance in a research report on Wednesday. They set a "buy" rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $13.25.

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Full Truck Alliance Stock Performance

Shares of YMM traded up $0.09 during mid-day trading on Friday, reaching $11.77. The stock had a trading volume of 6,355,397 shares, compared to its average volume of 7,322,905. The business has a fifty day moving average of $11.48 and a 200 day moving average of $9.74. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 28.02 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 12 month low of $5.70 and a 12 month high of $13.03.

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.