Brokerages Set Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) PT at $11.04

Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.0375.

YMM has been the topic of several analyst reports. Citigroup reiterated a “buy” rating on shares of Full Truck Alliance in a research note on Monday, April 20th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.60 to $10.00 in a research report on Monday, June 29th. Weiss Ratings raised Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Bank of America assumed coverage on Full Truck Alliance in a research report on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price target on the stock. Finally, Nomura set a $11.00 price objective on Full Truck Alliance in a research note on Monday, June 15th.

Full Truck Alliance Price Performance

Shares of YMM opened at $9.13 on Thursday. Full Truck Alliance has a 12 month low of $7.45 and a 12 month high of $14.07. The company has a market cap of $9.52 billion, a P/E ratio of 16.02, a PEG ratio of 0.80 and a beta of 0.31. The stock has a fifty day moving average price of $8.50 and a 200 day moving average price of $9.03.

Full Truck Alliance Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a $0.084 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a dividend yield of 201.0%. Full Truck Alliance’s dividend payout ratio is presently 28.07%.

Institutional Investors Weigh In On Full Truck Alliance

A number of hedge funds have recently made changes to their positions in YMM. E. Ohman J or Asset Management AB acquired a new position in Full Truck Alliance in the second quarter valued at about $349,000. Handelsbanken Fonder AB grew its stake in Full Truck Alliance by 2.7% during the second quarter. Handelsbanken Fonder AB now owns 275,182 shares of the company’s stock worth $2,234,000 after buying an additional 7,284 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of Full Truck Alliance by 24.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 95,825 shares of the company’s stock worth $778,000 after buying an additional 18,745 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Full Truck Alliance in the first quarter valued at approximately $25,000. Finally, Bank of America Corp DE raised its stake in shares of Full Truck Alliance by 57.7% in the first quarter. Bank of America Corp DE now owns 2,515,788 shares of the company’s stock valued at $20,881,000 after acquiring an additional 920,948 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

About Full Truck Alliance

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.