Myriad Asset Management US LP Makes New Investment in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Myriad Asset Management US LP acquired a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 195,444 shares of the company’s stock, valued at approximately $2,496,000. Full Truck Alliance comprises 1.1% of Myriad Asset Management US LP’s investment portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in YMM. SBI Securities Co. Ltd. purchased a new stake in shares of Full Truck Alliance during the 4th quarter valued at $64,000. Townsquare Capital LLC purchased a new stake in shares of Full Truck Alliance during the 4th quarter valued at $111,000. Wolverine Trading LLC purchased a new stake in shares of Full Truck Alliance during the 4th quarter valued at $115,000. Vise Technologies Inc. purchased a new stake in shares of Full Truck Alliance during the 4th quarter valued at $130,000. Finally, Truist Financial Corp purchased a new stake in shares of Full Truck Alliance during the 4th quarter valued at $143,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. HSBC started coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective for the company. Barclays upped their target price on Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and cut their target price for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Finally, Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Full Truck Alliance Price Performance

NYSE YMM opened at $11.79 on Tuesday. The stock’s fifty day moving average price is $11.47 and its 200 day moving average price is $11.47. Full Truck Alliance Co. Ltd. has a 1 year low of $6.66 and a 1 year high of $13.85. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 28.06 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The business also recently declared 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 is an increase 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 was Monday, April 7th. Full Truck Alliance’s dividend payout ratio (DPR) is currently 32.00%.

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.