Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lessened its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 42.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,801 shares of the company’s stock after selling 14,799 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Full Truck Alliance were worth $214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Full Truck Alliance by 31.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,195,704 shares of the company’s stock valued at $12,938,000 after purchasing an additional 285,106 shares during the period. Boothbay Fund Management LLC bought a new position in Full Truck Alliance during the fourth quarter valued at about $485,000. Oberweis Asset Management Inc. acquired a new position in Full Truck Alliance during the fourth quarter worth about $238,000. Pinebridge Investments L.P. raised its position in Full Truck Alliance by 17.2% in the fourth quarter. Pinebridge Investments L.P. now owns 1,004,308 shares of the company’s stock worth $10,867,000 after acquiring an additional 147,258 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Full Truck Alliance by 14.9% in the fourth quarter. Hsbc Holdings PLC now owns 2,480,430 shares of the company’s stock worth $26,858,000 after acquiring an additional 321,796 shares in the last quarter. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Price Performance

Full Truck Alliance stock opened at $12.69 on Wednesday. Full Truck Alliance Co. Ltd. has a fifty-two week low of $6.66 and a fifty-two week high of $13.85. The firm’s 50 day simple moving average is $11.80 and its 200-day simple moving average is $11.15. The company has a market cap of $13.27 billion, a P/E ratio of 30.22 and a beta of 0.20.

Full Truck Alliance Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Barclays raised their target price on shares of 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 initiated coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price target on the stock. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

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.