MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 40,588 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 17.5% in the first quarter, HoldingsChannel.com reports. The fund owned 272,643 shares of the company’s stock after acquiring an additional 40,588 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Full Truck Alliance were worth $3,482,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Full Truck Alliance during the 4th quarter valued at $64,000. Townsquare Capital LLC acquired a new position in shares of Full Truck Alliance during the 4th quarter worth $111,000. Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance during the 4th quarter worth $115,000. Vise Technologies Inc. acquired a new position in shares of Full Truck Alliance during the 4th quarter worth $130,000. Finally, Truist Financial Corp acquired a new position in shares of Full Truck Alliance during the 4th quarter worth $143,000. 39.02% of the stock is currently owned by institutional investors.

Full Truck Alliance Stock Down 3.9%

Shares of YMM opened at $12.01 on Friday. Full Truck Alliance Co. Ltd. has a 12-month low of $6.66 and a 12-month high of $13.85. The business has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $11.63. The stock has a market cap of $12.56 billion, a PE ratio of 28.60 and a beta of 0.20.

Analysts Set New Price Targets

YMM has been the subject of a number of research analyst reports. Barclays boosted their price target on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. HSBC initiated coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target for the company. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.