BNP Paribas Financial Markets Acquires New Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

BNP Paribas Financial Markets purchased a new position in Full Truck Alliance Co. Ltd. (NYSE:YMM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,173,283 shares of the company’s stock, valued at approximately $45,155,000.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Full Truck Alliance by 37.7% during the 4th quarter. Ameriprise Financial Inc. now owns 3,804,467 shares of the company’s stock valued at $41,164,000 after purchasing an additional 1,042,081 shares during the last quarter. Aspex Management HK Ltd bought a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $164,557,000. The Manufacturers Life Insurance Company boosted its holdings in Full Truck Alliance by 31.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,195,704 shares of the company’s stock valued at $12,938,000 after acquiring an additional 285,106 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Full Truck Alliance during the 4th quarter valued at $485,000. Finally, Oberweis Asset Management Inc. bought a new position in Full Truck Alliance in the 4th quarter worth $238,000. Institutional investors own 39.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on YMM. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. HSBC assumed coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price for the company. JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $10.00 in a research report on Monday, April 14th. 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. Finally, Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.80.

Full Truck Alliance Trading Down 3.8 %

Shares of NYSE:YMM opened at $11.63 on Thursday. The company has a 50-day moving average price of $11.82 and a 200 day moving average price of $11.05. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 27.68 and a beta of 0.20.

Full Truck Alliance Increases Dividend

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