Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,529 shares of the company’s stock after selling 2,424 shares during the quarter. Bank of New York Mellon Corp’s holdings in Full Truck Alliance were worth $904,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of YMM. Connor Clark & Lunn Investment Management Ltd. grew its stake in Full Truck Alliance by 13.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,540 shares of the company’s stock worth $924,000 after acquiring an additional 11,894 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Full Truck Alliance by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after purchasing an additional 100,080 shares during the last quarter. Citigroup Inc. grew its position in shares of Full Truck Alliance by 6.0% in the third quarter. Citigroup Inc. now owns 483,469 shares of the company’s stock valued at $4,356,000 after purchasing an additional 27,303 shares during the period. Quantbot Technologies LP increased its stake in Full Truck Alliance by 4,028.6% in the third quarter. Quantbot Technologies LP now owns 121,258 shares of the company’s stock valued at $1,093,000 after purchasing an additional 118,321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Full Truck Alliance during the third quarter worth about $4,218,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Analyst Ratings Changes

YMM has been the subject of several recent analyst reports. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a report on Thursday, March 6th. HSBC initiated coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price for the company. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. 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 research note on Tuesday, December 10th. Finally, Barclays increased their target price 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. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance currently has a consensus rating of “Buy” and a consensus price target of $16.40.

Full Truck Alliance Stock Down 2.5 %

Shares of YMM stock opened at $13.00 on Wednesday. Full Truck Alliance Co. Ltd. has a fifty-two week low of $6.66 and a fifty-two week high of $13.85. The firm’s 50 day moving average price is $12.19 and its two-hundred day moving average price is $10.47. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 30.95 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be issued a $0.1444 dividend. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. The ex-dividend date 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.