Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Stock Has Consensus Target Price of $11.30 According to Brokerages

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.30.

YMM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.60 to $10.00 in a research note on Monday, June 29th. UBS Group reiterated a “buy” rating and issued a $13.36 price objective on shares of Full Truck Alliance in a research note on Wednesday, August 5th. Nomura set a $11.00 target price on shares of Full Truck Alliance in a report on Monday, June 15th. Finally, Weiss Ratings cut shares of Full Truck Alliance from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 24th.

Full Truck Alliance Price Performance

Shares of YMM opened at $8.16 on Tuesday. Full Truck Alliance has a 1 year low of $7.45 and a 1 year high of $14.07. The stock’s fifty day moving average price is $8.73 and its two-hundred day moving average price is $8.60. The firm has a market cap of $8.51 billion, a PE ratio of 13.84, a PEG ratio of 0.74 and a beta of 0.22.

Full Truck Alliance (NYSE:YMM) last issued its earnings results on Friday, August 14th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $497.73 million during the quarter, compared to analyst estimates of $463.13 million. Full Truck Alliance had a net margin of 33.07% and a return on equity of 10.68%. Sell-side analysts anticipate that Full Truck Alliance will post 0.71 earnings per share for the current fiscal year.

Full Truck Alliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be given a $0.0840 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.34 annualized dividend and a dividend yield of 4.1%. Full Truck Alliance’s payout ratio is 54.24%.

Institutional Trading of Full Truck Alliance

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OLP CAPITAL MANAGEMENT Ltd grew its stake in Full Truck Alliance by 198.7% during the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 15,007,851 shares of the company’s stock valued at $161,034,000 after acquiring an additional 9,983,779 shares in the last quarter. Norges Bank purchased a new stake in Full Truck Alliance in the 4th quarter worth approximately $92,523,000. Kontiki Capital Management HK Ltd. lifted its stake in Full Truck Alliance by 32.8% in the 4th quarter. Kontiki Capital Management HK Ltd. now owns 20,380,969 shares of the company’s stock worth $218,688,000 after purchasing an additional 5,032,179 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in Full Truck Alliance by 14.0% in the 4th quarter. Krane Funds Advisors LLC now owns 32,100,736 shares of the company’s stock valued at $344,441,000 after purchasing an additional 3,935,263 shares during the period. Finally, Alpine Investment Management Ltd boosted its holdings in Full Truck Alliance by 86.1% in the 4th quarter. Alpine Investment Management Ltd now owns 7,444,800 shares of the company’s stock valued at $79,883,000 after purchasing an additional 3,444,800 shares during the period. 39.02% of the stock is currently owned by institutional investors.

About Full Truck Alliance

Full Truck Alliance Co, Ltd., also known as Manbang Group, operates a digital freight platform in China. Through its Yunmanman and Huochebang platforms, the company connects shippers with truck drivers and logistics providers, helping users arrange the transportation of goods across the country.

The company’s services include online freight matching, shipment listing and transaction support, route and vehicle information, and tools that help users manage deliveries. Its platform is designed to improve efficiency and transparency in China’s fragmented road-freight market by helping shippers find available capacity and allowing drivers to identify suitable loads.

Full Truck Alliance was formed in 2017 through the combination of Yunmanman and Huochebang and serves customers and transportation participants across China.