The Manufacturers Life Insurance Company Sells 149,082 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

The Manufacturers Life Insurance Company lessened its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 14.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 910,598 shares of the company’s stock after selling 149,082 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Full Truck Alliance worth $8,204,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Atomi Financial Group Inc. boosted its holdings in shares of Full Truck Alliance by 12.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after buying an additional 1,329 shares during the last quarter. Tobam purchased a new position in Full Truck Alliance in the second quarter valued at about $35,000. Blue Trust Inc. bought a new position in shares of Full Truck Alliance during the 2nd quarter valued at approximately $38,000. Harvest Fund Management Co. Ltd increased its stake in shares of Full Truck Alliance by 1.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 545,517 shares of the company’s stock worth $4,910,000 after purchasing an additional 5,660 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Full Truck Alliance by 29.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,969 shares of the company’s stock worth $209,000 after purchasing an additional 5,847 shares during the period. 39.02% of the stock is owned by institutional investors.

Full Truck Alliance Trading Up 1.5 %

Full Truck Alliance stock opened at $10.22 on Wednesday. The firm’s 50 day simple moving average is $9.15 and its 200 day simple moving average is $8.42. Full Truck Alliance Co. Ltd. has a 1-year low of $5.70 and a 1-year high of $10.29. The firm has a market capitalization of $10.77 billion, a PE ratio of 24.33 and a beta of 0.28.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on YMM. Barclays lowered their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Citigroup upped their price objective on shares of Full Truck Alliance from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $10.00.

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.