Full Truck Alliance Co. Ltd. (NYSE:YMM) Receives $16.40 Consensus Target Price from Analysts

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) have been given an average recommendation of “Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research 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. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $16.40.

A number of research firms recently issued reports on YMM. 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 note on Monday, March 10th. Citigroup increased their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Finally, HSBC assumed 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.

Full Truck Alliance Price Performance

Shares of Full Truck Alliance stock opened at $12.77 on Tuesday. Full Truck Alliance has a 1 year low of $6.66 and a 1 year high of $13.85. The company has a market capitalization of $13.45 billion, a P/E ratio of 30.39 and a beta of 0.25. The business has a 50-day moving average of $12.33 and a two-hundred day moving average of $10.64.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be paid a $0.1444 dividend. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s payout ratio is presently 39.02%.

Hedge Funds Weigh In On Full Truck Alliance

A number of large investors have recently modified their holdings of YMM. Y Intercept Hong Kong Ltd acquired a new stake in shares of Full Truck Alliance in the third quarter valued at about $3,525,000. Charles Schwab Investment Management Inc. boosted its position in 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 valued at $8,217,000 after purchasing an additional 100,080 shares during the last quarter. XTX Topco Ltd grew its stake in Full Truck Alliance by 318.2% in the third quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after purchasing an additional 125,001 shares in the last quarter. IMC Chicago LLC acquired a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $263,000. Finally, State Street Corp raised its stake in shares of Full Truck Alliance by 6.4% during 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 in the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.