Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd cut its holdings in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 378,170 shares of the company’s stock after selling 167,347 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Full Truck Alliance were worth $4,088,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Empower Harvest Management Services Inc. acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $97,058,000. Davis Selected Advisers acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $58,432,000. North of South Capital LLP increased its position in shares of Full Truck Alliance by 74.8% in the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company’s stock valued at $61,593,000 after acquiring an additional 2,436,130 shares during the period. Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of Full Truck Alliance by 7.4% in the 4th 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 during the period. Finally, Alkeon Capital Management LLC grew its position in Full Truck Alliance by 3.9% during the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after purchasing an additional 921,820 shares during the period. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Down 1.3 %

NYSE:YMM opened at $13.51 on Wednesday. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85. The stock has a market capitalization of $14.23 billion, a PE ratio of 32.16 and a beta of 0.25. The stock’s 50-day moving average price is $11.93 and its 200-day moving average price is $10.26.

Full Truck Alliance Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. This represents a dividend yield of 0.9%. Full Truck Alliance’s dividend payout ratio (DPR) is 39.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on YMM shares. Citigroup increased their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays increased 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 started coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $16.40.

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.