292,000 Shares in Full Truck Alliance Co. Ltd. (NYSE:YMM) Purchased by AI Squared Management Ltd

AI Squared Management Ltd bought a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 292,000 shares of the company’s stock, valued at approximately $3,159,000. Full Truck Alliance accounts for approximately 3.2% of AI Squared Management Ltd’s investment portfolio, making the stock its 10th largest holding.

Several other hedge funds also recently modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new stake in shares of Full Truck Alliance during the third quarter worth approximately $3,525,000. Charles Schwab Investment Management Inc. grew its holdings in Full Truck Alliance by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after acquiring an additional 100,080 shares during the period. XTX Topco Ltd raised its position in shares of Full Truck Alliance by 318.2% during the 3rd quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after acquiring an additional 125,001 shares during the last quarter. IMC Chicago LLC acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $263,000. Finally, State Street Corp boosted its position in shares of Full Truck Alliance by 6.4% in the 3rd quarter. State Street Corp now owns 2,609,508 shares of the company’s stock worth $23,512,000 after purchasing an additional 155,834 shares during the last quarter. Institutional investors own 39.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on YMM shares. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Citigroup increased their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. Barclays increased their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, HSBC assumed coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Trading Up 1.6 %

YMM opened at $13.34 on Tuesday. The stock has a market capitalization of $14.05 billion, a P/E ratio of 31.75 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The firm’s fifty day simple moving average is $12.15 and its 200 day simple moving average is $10.43.

Full Truck Alliance Increases Dividend

The company also recently disclosed 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 boost from Full Truck Alliance’s previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s dividend payout ratio is currently 39.02%.

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.