Brokerages Set Full Truck Alliance Co. Ltd. (NYSE:YMM) PT at $16.40

Full Truck Alliance Co. Ltd. (NYSE:YMM) has received an average recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.40.

Several research analysts have weighed in on the company. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays boosted 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. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $18.00 in a research report 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. Finally, Citigroup raised their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Full Truck Alliance Stock Performance

NYSE:YMM opened at $13.30 on Tuesday. Full Truck Alliance has a 52-week low of $6.66 and a 52-week high of $13.85. The company has a market cap of $14.01 billion, a P/E ratio of 31.66 and a beta of 0.25. The stock’s 50-day simple moving average is $12.27 and its 200 day simple moving average is $10.51.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be paid a $0.1444 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a yield of 0.9%. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio is 39.02%.

Institutional Investors Weigh In On Full Truck Alliance

Several hedge funds have recently bought and sold shares of the stock. FIL Ltd increased its stake in shares of Full Truck Alliance by 83.0% during the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock worth $559,725,000 after purchasing an additional 23,468,794 shares during the period. Aspex Management HK Ltd acquired a new position in Full Truck Alliance in the 4th quarter valued at $164,557,000. JPMorgan Chase & Co. increased its position in Full Truck Alliance by 37.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock worth $409,811,000 after buying an additional 10,383,716 shares during the period. Norges Bank acquired a new stake in shares of Full Truck Alliance during the fourth quarter worth $101,649,000. Finally, Empower Harvest Management Services Inc. bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $97,058,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.