Carrhae Capital LLP Invests $34.69 Million in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Carrhae Capital LLP acquired a new stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 2,674,774 shares of the company’s stock, valued at approximately $34,692,000. Full Truck Alliance makes up 2.0% of Carrhae Capital LLP’s portfolio, making the stock its 14th biggest position.

A number of other large investors have also added to or reduced their stakes in the business. Schroder Investment Management Group boosted its position in Full Truck Alliance by 2,789.6% during the 3rd quarter. Schroder Investment Management Group now owns 33,333,051 shares of the company’s stock worth $432,330,000 after buying an additional 32,179,501 shares during the period. First Beijing Investment Ltd increased its position in Full Truck Alliance by 73.8% in the 3rd quarter. First Beijing Investment Ltd now owns 68,645,580 shares of the company’s stock valued at $890,333,000 after acquiring an additional 29,150,926 shares during the period. Invesco Ltd. raised its stake in shares of Full Truck Alliance by 66.4% during the third quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock valued at $703,277,000 after acquiring an additional 21,628,993 shares during the last quarter. Capital International Investors bought a new position in shares of Full Truck Alliance during the third quarter valued at $188,227,000. Finally, Norges Bank acquired a new position in shares of Full Truck Alliance during the second quarter worth $134,623,000. Institutional investors own 39.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of Full Truck Alliance in a research note on Thursday, March 12th. Barclays reduced their price target on Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 19th. JPMorgan Chase & Co. cut Full Truck Alliance from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $11.00 to $8.00 in a research note on Monday, January 12th. Weiss Ratings downgraded Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 13th. Finally, iA Financial set a $8.00 target price on Full Truck Alliance in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.43.

Full Truck Alliance Stock Down 1.0%

YMM stock opened at $8.72 on Wednesday. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 14.53 and a beta of 0.23. The company’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $11.35. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $8.68 and a 12-month high of $14.07.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. Full Truck Alliance had a return on equity of 11.33% and a net margin of 35.22%.The firm had revenue of $456.32 million during the quarter, compared to the consensus estimate of $3.13 billion. Research analysts expect that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.46 earnings per share for the current year.

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.