Full Truck Alliance (NYSE:YMM) Sets New 52-Week High – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM) reached a new 52-week high during trading on Monday . The company traded as high as $13.63 and last traded at $13.62, with a volume of 3576894 shares trading hands. The stock had previously closed at $12.91.

Analyst Ratings Changes

YMM has been the subject of a number of research analyst reports. Citigroup upped 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 note on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a research note on Thursday, March 6th. Barclays upped their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. HSBC initiated coverage on shares of 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. Finally, Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Trading Up 6.7 %

The stock’s 50-day moving average is $11.81 and its 200-day moving average is $10.17. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 32.82 and a beta of 0.25.

Full Truck Alliance Increases Dividend

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

Institutional Trading of Full Truck Alliance

Institutional investors and hedge funds have recently bought and sold shares of the business. FIL Ltd grew its position in Full Truck Alliance by 83.0% in the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock valued at $559,725,000 after acquiring an additional 23,468,794 shares in the last quarter. JPMorgan Chase & Co. grew its position in Full Truck Alliance by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after acquiring an additional 10,383,716 shares in the last quarter. Vanguard Group Inc. grew its position in Full Truck Alliance by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock valued at $313,164,000 after acquiring an additional 295,301 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its position 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 in the last quarter. Finally, Alkeon Capital Management LLC grew its position in Full Truck Alliance by 3.9% in the third quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock valued at $218,732,000 after acquiring an additional 921,820 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

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.