Full Truck Alliance (NYSE:YMM) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. cut shares of Full Truck Alliance (NYSE:YMM) from an overweight rating to a neutral rating in a research note released on Monday morning, MarketBeat reports. The firm currently has $10.00 price objective on the stock, down from their prior price objective of $18.00.

YMM has been the topic of several other reports. 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 target on the stock. Barclays increased their price target on Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Full Truck Alliance currently has a consensus rating of “Buy” and an average target price of $14.80.

Full Truck Alliance Stock Up 2.1 %

NYSE YMM opened at $9.87 on Monday. Full Truck Alliance has a fifty-two week low of $6.66 and a fifty-two week high of $13.85. The business has a fifty day moving average of $12.23 and a 200-day moving average of $10.87. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 23.50 and a beta of 0.19.

Full Truck Alliance Increases Dividend

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

Institutional Investors Weigh In On Full Truck Alliance

A number of institutional investors have recently made changes to their positions in the company. TB Alternative Assets Ltd. lifted its stake in Full Truck Alliance by 31.4% during the first quarter. TB Alternative Assets Ltd. now owns 530,454 shares of the company’s stock worth $6,774,000 after purchasing an additional 126,688 shares during the last quarter. Myriad Asset Management US LP bought a new position in shares of Full Truck Alliance in the 1st quarter worth about $2,496,000. Summit Global Investments bought a new stake in shares of Full Truck Alliance during the 1st quarter valued at about $339,000. GF Fund Management CO. LTD. acquired a new stake in Full Truck Alliance during the fourth quarter worth about $16,578,000. Finally, Burgundy Asset Management Ltd. lifted its holdings in Full Truck Alliance by 1,541.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 915,700 shares of the company’s stock worth $9,908,000 after acquiring an additional 859,901 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors.

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.