SummitTX Capital L.P. Invests $515,000 in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

SummitTX Capital L.P. acquired a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 62,094 shares of the company’s stock, valued at approximately $515,000.

Several other hedge funds and other institutional investors have also modified their holdings of YMM. Invesco Ltd. grew its stake in Full Truck Alliance by 66.4% in the third quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock valued at $703,277,000 after purchasing an additional 21,628,993 shares in the last quarter. Schroder Investment Management Group increased its position in Full Truck Alliance by 43.6% in the 4th quarter. Schroder Investment Management Group now owns 47,859,035 shares of the company’s stock worth $513,527,000 after purchasing an additional 14,525,984 shares during the last quarter. OLP CAPITAL MANAGEMENT Ltd raised its stake in shares of Full Truck Alliance by 198.7% during the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 15,007,851 shares of the company’s stock worth $161,034,000 after purchasing an additional 9,983,779 shares in the last quarter. Norges Bank purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth about $92,523,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Full Truck Alliance during the 4th quarter valued at about $87,896,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on YMM shares. Bank of America began coverage on Full Truck Alliance in a research note on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price target for the company. Nomura set a $11.00 price objective on shares of Full Truck Alliance in a research report on Monday, June 15th. Weiss Ratings cut shares of Full Truck Alliance from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Citigroup reissued a “buy” rating on shares of Full Truck Alliance in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.04.

Full Truck Alliance Price Performance

Shares of NYSE:YMM opened at $9.49 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $7.45 and a fifty-two week high of $14.07. The business has a 50-day moving average of $8.62 and a two-hundred day moving average of $8.91. The stock has a market capitalization of $9.90 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.84 and a beta of 0.31.

Full Truck Alliance Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a $0.084 dividend. This represents a dividend yield of 201.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Full Truck Alliance’s dividend payout ratio (DPR) is presently 28.07%.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.