Full Truck Alliance (NYSE:YMM) Sets New 52-Week High – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.63 and last traded at $13.62, with a volume of 3576894 shares changing hands. The stock had previously closed at $12.91.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on YMM. Barclays increased their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their target price for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. 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 for the company. Finally, Citigroup increased their target price on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Full Truck Alliance currently has a consensus rating of “Buy” and an average target price of $16.40.

Full Truck Alliance Stock Up 6.7 %

The company has a 50 day moving average of $11.81 and a 200-day moving average of $10.17. The stock has a market capitalization of $14.52 billion, a P/E ratio of 32.82 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be paid a dividend of $0.1444 per share. The ex-dividend date is Monday, April 7th. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. Full Truck Alliance’s dividend payout ratio (DPR) is 39.02%.

Hedge Funds Weigh In On Full Truck Alliance

Several large investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Full Truck Alliance during the fourth quarter worth $16,578,000. Burgundy Asset Management Ltd. lifted its stake in Full Truck Alliance by 1,541.1% during 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 last quarter. Vise Technologies Inc. bought a new position in Full Truck Alliance during the fourth quarter worth $130,000. Sylebra Capital LLC lifted its stake in Full Truck Alliance by 64.3% in the fourth 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 last quarter. Finally, Wolverine Trading LLC bought a new stake in Full Truck Alliance in the fourth quarter valued at $115,000. 39.02% of the stock is currently owned by institutional investors.

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.