Full Truck Alliance (NYSE:YMM) Shares Gap Up on Analyst Upgrade

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped up prior to trading on Tuesday after Barclays raised their price target on the stock from $7.00 to $13.00. The stock had previously closed at $12.19, but opened at $12.75. Barclays currently has an equal weight rating on the stock. Full Truck Alliance shares last traded at $12.60, with a volume of 1,497,159 shares trading hands.

A number of other brokerages also recently issued reports on YMM. Citigroup boosted their price objective 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. HSBC started coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Finally, Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. One research 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 company’s stock. According to data from MarketBeat, Full Truck Alliance presently has a consensus rating of “Buy” and an average price target of $16.40.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Full Truck Alliance by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,722 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Full Truck Alliance by 20.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company’s stock worth $221,000 after acquiring an additional 3,442 shares during the last quarter. abrdn plc boosted its holdings in shares of Full Truck Alliance by 22.6% during the fourth quarter. abrdn plc now owns 22,705 shares of the company’s stock worth $246,000 after purchasing an additional 4,187 shares during the period. Geode Capital Management LLC raised its holdings in shares of Full Truck Alliance by 3.7% during the third quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock valued at $1,067,000 after acquiring an additional 4,235 shares in the last quarter. Finally, LMR Partners LLP increased its position in Full Truck Alliance by 25.4% during the 4th quarter. LMR Partners LLP now owns 27,881 shares of the company’s stock valued at $302,000 after purchasing an additional 5,646 shares during the period. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Stock Up 3.2 %

The firm’s 50-day moving average is $11.66 and its 200-day moving average is $10.01. The company has a market cap of $13.25 billion, a PE ratio of 29.94 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, April 18th. Investors of record on Monday, April 7th will be given a dividend of $0.1444 per share. This represents a yield of 0.9%. This is an increase 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 46.34%.

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.