Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 1.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,262 shares of the company’s stock after buying an additional 1,722 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Full Truck Alliance were worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in YMM. Empower Harvest Management Services Inc. purchased a new stake in shares of Full Truck Alliance in the 4th quarter worth approximately $97,058,000. Davis Selected Advisers purchased a new stake in shares of Full Truck Alliance in the 4th quarter worth approximately $58,432,000. North of South Capital LLP grew its stake 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 worth $61,593,000 after buying an additional 2,436,130 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its stake 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 worth $281,534,000 after buying an additional 1,802,420 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its stake in shares of Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after buying an additional 921,820 shares during the last quarter. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Analyst Upgrades and Downgrades

YMM has been the topic of several recent research reports. HSBC started coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price target on the stock. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Barclays increased their target price on 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. Citigroup increased their target price on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their target price for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance currently has an average rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Price Performance

NYSE YMM opened at $13.28 on Friday. The business’s fifty day moving average price is $12.04 and its 200-day moving average price is $10.30. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of 31.61 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 1-year low of $6.66 and a 1-year high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. Full Truck Alliance’s dividend payout ratio is presently 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.