362,808 Shares in Full Truck Alliance Co. Ltd. (NYSE:YMM) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 362,808 shares of the company’s stock, valued at approximately $2,917,000.

A number of other institutional investors also recently added to or reduced their stakes in YMM. Squarepoint Ops LLC increased its position in shares of Full Truck Alliance by 6,042.8% in the 2nd quarter. Squarepoint Ops LLC now owns 1,131,264 shares of the company’s stock valued at $9,095,000 after purchasing an additional 1,112,848 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Full Truck Alliance by 2,474.5% during the second quarter. Cubist Systematic Strategies LLC now owns 854,104 shares of the company’s stock worth $6,867,000 after purchasing an additional 820,928 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new position in Full Truck Alliance in the second quarter valued at $284,000. Seven Eight Capital LP acquired a new stake in Full Truck Alliance in the second quarter valued at $343,000. Finally, Hsbc Holdings PLC raised its stake in Full Truck Alliance by 1.1% in the second quarter. Hsbc Holdings PLC now owns 2,114,149 shares of the company’s stock valued at $16,759,000 after buying an additional 23,915 shares in the last quarter. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Trading Down 1.9 %

Shares of NYSE:YMM opened at $8.26 on Thursday. The firm has a 50 day simple moving average of $7.47 and a 200-day simple moving average of $7.99. Full Truck Alliance Co. Ltd. has a twelve month low of $5.70 and a twelve month high of $9.68. The company has a market capitalization of $8.70 billion, a PE ratio of 25.81 and a beta of 0.20.

Full Truck Alliance (NYSE:YMM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. The firm had revenue of $380.38 million during the quarter, compared to analysts’ expectations of $369.24 million. As a group, equities research analysts predict that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barclays lowered their price objective on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd.

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.