Full Truck Alliance (NYSE:YMM) Trading 7.1% Higher – Still a Buy?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) rose 7.1% on Monday . The company traded as high as $10.63 and last traded at $10.36. Approximately 3,780,423 shares were traded during trading, a decline of 59% from the average daily volume of 9,187,182 shares. The stock had previously closed at $9.67.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $10.00 in a report on Monday. HSBC initiated coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Barclays increased their target price on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.80.

Full Truck Alliance Trading Up 5.1 %

The stock has a market capitalization of $10.71 billion, a P/E ratio of 24.19 and a beta of 0.19. The company has a 50-day moving average price of $12.26 and a 200 day moving average price of $10.86.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be given a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. Full Truck Alliance’s dividend payout ratio is presently 39.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. TB Alternative Assets Ltd. grew its holdings in Full Truck Alliance by 31.4% in the first quarter. TB Alternative Assets Ltd. now owns 530,454 shares of the company’s stock worth $6,774,000 after purchasing an additional 126,688 shares during the last quarter. Myriad Asset Management US LP acquired a new position in Full Truck Alliance during the 1st quarter valued at about $2,496,000. Summit Global Investments purchased a new stake in Full Truck Alliance in the first quarter valued at about $339,000. GF Fund Management CO. LTD. acquired a new stake in Full Truck Alliance in the fourth quarter worth about $16,578,000. Finally, Burgundy Asset Management Ltd. grew its stake in shares of Full Truck Alliance by 1,541.1% during the fourth quarter. Burgundy Asset Management Ltd. now owns 915,700 shares of the company’s stock worth $9,908,000 after acquiring an additional 859,901 shares during the last quarter. Hedge funds and other institutional investors own 39.02% of the company’s stock.

About Full Truck Alliance

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.