Full Truck Alliance (NYSE:YMM) Stock Price Expected to Rise, Barclays Analyst Says

Full Truck Alliance (NYSE:YMM) had its price target lifted by Barclays from $7.00 to $13.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on YMM. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $18.00 in a report on Thursday, March 6th. Citigroup increased their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, HSBC assumed coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Full Truck Alliance presently has a consensus rating of “Buy” and a consensus price target of $16.40.

Full Truck Alliance Stock Performance

Shares of YMM opened at $12.66 on Monday. Full Truck Alliance has a 52-week low of $6.66 and a 52-week high of $13.53. The stock’s 50-day simple moving average is $11.73 and its 200 day simple moving average is $10.07. The stock has a market capitalization of $13.33 billion, a price-to-earnings ratio of 30.13 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be issued a $0.1444 dividend. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. This represents a dividend yield of 0.9%. Full Truck Alliance’s dividend payout ratio is presently 46.34%.

Institutional Trading of Full Truck Alliance

Hedge funds have recently made changes to their positions in the stock. FIL Ltd lifted its stake in 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 last quarter. Aspex Management HK Ltd purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at about $164,557,000. JPMorgan Chase & Co. raised its holdings in shares of Full Truck Alliance by 37.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after buying an additional 10,383,716 shares in the last quarter. Norges Bank bought a new stake in Full Truck Alliance in the 4th quarter worth approximately $101,649,000. Finally, Empower Harvest Management Services Inc. purchased a new stake in Full Truck Alliance in the fourth quarter worth approximately $97,058,000. 39.02% of the stock is 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.