Matthews International Capital Management LLC Lowers Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Matthews International Capital Management LLC reduced its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 16.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,979,832 shares of the company’s stock after selling 593,743 shares during the period. Full Truck Alliance accounts for about 8.1% of Matthews International Capital Management LLC’s portfolio, making the stock its 4th largest position. Matthews International Capital Management LLC owned approximately 0.28% of Full Truck Alliance worth $35,192,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Atlas Capital Advisors Inc. purchased a new position in shares of Full Truck Alliance in the first quarter worth $29,000. Brooklyn Investment Group raised its stake in Full Truck Alliance by 495.4% in the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company’s stock worth $31,000 after acquiring an additional 2,046 shares during the last quarter. US Bancorp DE purchased a new position in Full Truck Alliance in the 1st quarter worth $40,000. Summit Securities Group LLC raised its stake in Full Truck Alliance by 1,466.6% in the 1st quarter. Summit Securities Group LLC now owns 5,013 shares of the company’s stock worth $64,000 after acquiring an additional 4,693 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Full Truck Alliance by 12,795.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company’s stock worth $142,000 after buying an additional 11,004 shares during the last quarter. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Price Performance

NYSE:YMM opened at $13.34 on Friday. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 23.81 and a beta of 0.20. The company has a 50 day moving average price of $12.49 and a 200-day moving average price of $12.08. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $8.20 and a 1-year high of $14.02.

Full Truck Alliance Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.096 per share. This represents a dividend yield of 60.0%. The ex-dividend date of this dividend is Friday, October 10th. Full Truck Alliance’s payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Full Truck Alliance in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.00.

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.