Brokerages Set Full Truck Alliance Co. Ltd. (NYSE:YMM) PT at $16.40

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) have been given an average recommendation of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.40.

A number of research firms recently commented on YMM. Citigroup increased their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their target price for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research report on Thursday, March 6th. HSBC assumed coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Barclays upped their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th.

Full Truck Alliance Trading Down 1.0 %

Shares of Full Truck Alliance stock opened at $12.77 on Tuesday. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 30.39 and a beta of 0.25. The firm’s 50-day moving average price is $12.33 and its two-hundred day moving average price is $10.64. Full Truck Alliance has a 1-year low of $6.66 and a 1-year high of $13.85.

Full Truck Alliance Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be paid a $0.1444 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. Full Truck Alliance’s dividend payout ratio (DPR) is presently 39.02%.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth about $3,525,000. Charles Schwab Investment Management Inc. boosted its stake in Full Truck Alliance by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after acquiring an additional 100,080 shares during the last quarter. XTX Topco Ltd grew its holdings in Full Truck Alliance by 318.2% during the third quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after purchasing an additional 125,001 shares during the period. IMC Chicago LLC bought a new stake in Full Truck Alliance in the fourth quarter valued at approximately $263,000. Finally, State Street Corp increased its stake in Full Truck Alliance by 6.4% in the third quarter. State Street Corp now owns 2,609,508 shares of the company’s stock valued at $23,512,000 after purchasing an additional 155,834 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

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.