Full Truck Alliance Target of Unusually High Options Trading (NYSE:YMM)

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the recipient of unusually large options trading on Tuesday. Traders acquired 6,319 put options on the stock. This is an increase of approximately 218% compared to the average volume of 1,990 put options.

Analyst Ratings Changes

YMM has been the subject of several recent analyst reports. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price target for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. HSBC assumed coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective on the stock. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a report on Thursday, March 6th. Finally, Barclays lifted 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.40.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in Full Truck Alliance in the 3rd quarter valued at $3,525,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Full Truck Alliance by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after buying an additional 100,080 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Full Truck Alliance by 318.2% during the third quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock worth $1,480,000 after buying an additional 125,001 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $263,000. Finally, State Street Corp grew its stake in shares of 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 acquiring 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 Stock Performance

Shares of YMM stock opened at $13.00 on Wednesday. Full Truck Alliance has a 52 week low of $6.66 and a 52 week high of $13.85. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 30.95 and a beta of 0.25. The company has a 50-day simple moving average of $12.19 and a 200 day simple moving average of $10.47.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. 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. Full Truck Alliance’s payout ratio is currently 39.02%.

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.