First Beijing Investment Ltd Invests $123.80 Million in Full Truck Alliance Co. Ltd. (NYSE:YMM)

First Beijing Investment Ltd purchased a new position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 13,740,729 shares of the company’s stock, valued at approximately $123,804,000. Full Truck Alliance comprises about 9.1% of First Beijing Investment Ltd’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new stake in Full Truck Alliance during the 1st quarter valued at $13,854,000. Sylebra Capital LLC raised its stake in Full Truck Alliance by 57.9% during the 2nd quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company’s stock worth $64,416,000 after acquiring an additional 2,939,456 shares during the period. Janus Henderson Group PLC increased its stake in Full Truck Alliance by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock worth $85,822,000 after buying an additional 317,980 shares in the last quarter. National Bank of Canada FI bought a new stake in Full Truck Alliance during the 2nd quarter valued at approximately $1,092,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Full Truck Alliance in the second quarter worth $6,988,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays cut their target price on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd.

Full Truck Alliance Stock Performance

NYSE:YMM traded down $0.26 during midday trading on Wednesday, reaching $8.73. 1,491,147 shares of the stock traded hands, compared to its average volume of 8,539,688. Full Truck Alliance Co. Ltd. has a 12-month low of $5.70 and a 12-month high of $10.29. The stock has a market capitalization of $9.20 billion, a PE ratio of 25.69 and a beta of 0.23. The business has a 50-day moving average of $8.39 and a two-hundred day moving average of $8.33.

Full Truck Alliance (NYSE:YMM) last announced its earnings results on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. The business had revenue of $380.38 million during the quarter, compared to analysts’ expectations of $369.24 million. Research analysts anticipate that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current year.

Full Truck Alliance 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.