Traders Purchase High Volume of Full Truck Alliance Put Options (NYSE:YMM)

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the target of some unusual options trading activity on Tuesday. Investors acquired 6,319 put options on the company. This represents an increase of 218% compared to the typical daily volume of 1,990 put options.

Analyst Ratings Changes

YMM has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays upped their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $18.00 in a report on Thursday, March 6th. HSBC began coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Trading Down 2.5 %

Shares of NYSE YMM opened at $13.00 on Wednesday. The company has a fifty day moving average price of $12.19 and a 200 day moving average price of $10.47. The firm has a market cap of $13.70 billion, a PE ratio of 30.95 and a beta of 0.25. Full Truck Alliance has a 1-year low of $6.66 and a 1-year high of $13.85.

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 given a dividend of $0.1444 per share. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s dividend payout ratio is currently 39.02%.

Institutional Investors Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $64,000. Townsquare Capital LLC acquired a new position in Full Truck Alliance during the fourth quarter worth $111,000. Wolverine Trading LLC bought a new position in Full Truck Alliance in the fourth quarter valued at $115,000. Vise Technologies Inc. acquired a new stake in Full Truck Alliance in the 4th quarter valued at $130,000. Finally, Truist Financial Corp bought a new stake in Full Truck Alliance during the 4th quarter worth about $143,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Company 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.