Full Truck Alliance (NYSE:YMM) Trading 6.4% Higher – Time to Buy?

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)’s share price was up 6.4% during mid-day trading on Wednesday . The company traded as high as $9.20 and last traded at $9.1950. Approximately 4,691,486 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 8,424,469 shares. The stock had previously closed at $8.64.

Analyst Ratings Changes

Several research firms recently commented on YMM. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Bank of America began coverage on shares of Full Truck Alliance in a report on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price target on the stock. Nomura set a $11.00 price target on Full Truck Alliance in a research report on Monday, June 15th. Weiss Ratings upgraded Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Citigroup reissued a “buy” rating on shares of Full Truck Alliance in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Full Truck Alliance presently has an average rating of “Moderate Buy” and a consensus target price of $11.04.

Full Truck Alliance Stock Up 1.4%

The stock has a market capitalization of $9.72 billion, a PE ratio of 16.36, a PEG ratio of 0.81 and a beta of 0.31. The firm has a 50 day moving average price of $8.50 and a 200-day moving average price of $9.02.

Full Truck Alliance Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a $0.084 dividend. This represents a dividend yield of 201.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Full Truck Alliance’s dividend payout ratio is 28.07%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in YMM. Invesco Ltd. grew its position in Full Truck Alliance by 66.4% during the 3rd quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock worth $703,277,000 after purchasing an additional 21,628,993 shares during the period. Schroder Investment Management Group grew its holdings in Full Truck Alliance by 43.6% during the fourth quarter. Schroder Investment Management Group now owns 47,859,035 shares of the company’s stock worth $513,527,000 after acquiring an additional 14,525,984 shares during the period. OLP CAPITAL MANAGEMENT Ltd boosted its position in Full Truck Alliance by 198.7% in the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 15,007,851 shares of the company’s stock worth $161,034,000 after purchasing an additional 9,983,779 shares in the last quarter. Norges Bank purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at approximately $92,523,000. Finally, Wellington Management Group LLP purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at approximately $87,896,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

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.