Bamco Inc. NY Sells 1,215,100 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Bamco Inc. NY reduced its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,000,606 shares of the company’s stock after selling 1,215,100 shares during the quarter. Bamco Inc. NY owned about 0.76% of Full Truck Alliance worth $94,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE raised its position in Full Truck Alliance by 8.9% in the 2nd quarter. Bank of America Corp DE now owns 4,797,378 shares of the company’s stock worth $56,657,000 after purchasing an additional 392,901 shares during the last quarter. Alkeon Capital Management LLC increased its stake in shares of Full Truck Alliance by 5.7% in the 2nd quarter. Alkeon Capital Management LLC now owns 14,698,535 shares of the company’s stock valued at $173,590,000 after buying an additional 790,000 shares during the period. Lighthouse Investment Partners LLC raised its position in shares of Full Truck Alliance by 316.2% during the second quarter. Lighthouse Investment Partners LLC now owns 285,207 shares of the company’s stock worth $3,368,000 after acquiring an additional 216,675 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Full Truck Alliance during the second quarter worth $32,268,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Full Truck Alliance by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,682,427 shares of the company’s stock valued at $31,679,000 after acquiring an additional 1,184,342 shares during the period. Institutional investors and hedge funds own 39.02% of the company’s stock.

Analyst Ratings Changes

YMM has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Full Truck Alliance in a research report on Wednesday, October 8th. Barclays reduced their target price on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 19th. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a research report on Monday, November 17th. Finally, Jefferies Financial Group set a $13.00 price objective on shares of Full Truck Alliance in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.43.

Full Truck Alliance Trading Down 0.6%

Shares of YMM opened at $11.75 on Friday. The stock has a market cap of $12.29 billion, a P/E ratio of 22.17 and a beta of 0.21. The stock’s 50-day moving average price is $12.12 and its two-hundred day moving average price is $12.25. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $9.45 and a 1 year high of $14.07.

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.