Stock Traders Buy Large Volume of Full Truck Alliance Put Options (NYSE:YMM)

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the recipient of unusually large options trading on Tuesday. Traders purchased 6,319 put options on the stock. This represents an increase of approximately 218% compared to the typical daily volume of 1,990 put options.

Institutional Investors Weigh In On Full Truck Alliance

A number of institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $16,578,000. Burgundy Asset Management Ltd. lifted its position 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 purchasing an additional 859,901 shares during the period. Vise Technologies Inc. acquired a new stake in Full Truck Alliance during the fourth quarter worth $130,000. Sylebra Capital LLC increased its holdings in Full Truck Alliance by 64.3% in the 4th quarter. Sylebra Capital LLC now owns 10,693,280 shares of the company’s stock valued at $115,701,000 after buying an additional 4,184,065 shares during the period. Finally, Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $115,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on YMM shares. HSBC started coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a research note on Thursday, March 6th. Citigroup boosted their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Stock Down 1.8 %

YMM stock traded down $0.25 during mid-day trading on Tuesday, reaching $13.10. 603,151 shares of the stock traded hands, compared to its average volume of 8,488,842. The business has a 50-day moving average of $12.15 and a two-hundred day moving average of $10.43. The firm has a market capitalization of $13.80 billion, a PE ratio of 31.21 and a beta of 0.25. Full Truck Alliance has a 52 week low of $6.66 and a 52 week high of $13.85.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be given a $0.1444 dividend. This represents a yield of 0.9%. 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. Full Truck Alliance’s dividend payout ratio (DPR) is currently 39.02%.

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.