42,634 Shares in Full Truck Alliance Co. Ltd. (NYSE:YMM) Purchased by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,634 shares of the company’s stock, valued at approximately $343,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Tobam bought a new position in Full Truck Alliance during the second quarter valued at approximately $35,000. Blue Trust Inc. bought a new position in shares of Full Truck Alliance during the 2nd quarter valued at $38,000. Atomi Financial Group Inc. boosted its stake in shares of Full Truck Alliance by 12.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after buying an additional 1,329 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Full Truck Alliance by 34.0% in the first quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock worth $98,000 after acquiring an additional 3,421 shares during the period. Finally, Barometer Capital Management Inc. purchased a new stake in Full Truck Alliance during the fourth quarter valued at $122,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Stock Down 1.6 %

YMM stock opened at $7.60 on Monday. The business’s 50-day moving average price is $7.47 and its 200-day moving average price is $7.95. The stock has a market cap of $8.01 billion, a P/E ratio of 23.75 and a beta of 0.20. Full Truck Alliance Co. Ltd. has a twelve month low of $5.70 and a twelve month high of $9.68.

Full Truck Alliance (NYSE:YMM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. On average, equities research analysts expect that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barclays cut their price target on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd.

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.