Keystone Investors PTE Ltd. Takes Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Keystone Investors PTE Ltd. purchased a new position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) during the fourth quarter, Holdings Channel reports. The firm purchased 591,952 shares of the company’s stock, valued at approximately $6,405,000. Full Truck Alliance accounts for approximately 0.4% of Keystone Investors PTE Ltd.’s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors also recently bought and sold shares of YMM. Empower Harvest Management Services Inc. purchased a new position in Full Truck Alliance in the 4th quarter valued at about $97,058,000. Davis Selected Advisers acquired a new stake in shares of Full Truck Alliance in the fourth quarter worth approximately $58,432,000. North of South Capital LLP increased its position in shares of Full Truck Alliance by 74.8% during the fourth quarter. North of South Capital LLP now owns 5,692,489 shares of the company’s stock worth $61,593,000 after purchasing an additional 2,436,130 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its stake in 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 valued at $281,534,000 after purchasing an additional 1,802,420 shares during the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd lifted its holdings in Full Truck Alliance by 354.5% in the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 1,363,614 shares of the company’s stock valued at $14,754,000 after purchasing an additional 1,063,614 shares in the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on YMM. Barclays upped their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. HSBC assumed coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price target for the company from $13.00 to $18.00 in a report on Thursday, March 6th. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research note on Thursday, March 6th. Finally, Citigroup raised their target price on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Stock Up 1.6 %

NYSE:YMM opened at $13.34 on Tuesday. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85. The stock’s fifty day moving average is $12.15 and its two-hundred day moving average is $10.43. The company has a market capitalization of $14.05 billion, a P/E ratio of 31.75 and a beta of 0.25.

Full Truck Alliance Increases Dividend

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

Full Truck Alliance 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.