Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD lowered its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 8.2% during the fourth quarter, Holdings Channel reports. The firm owned 430,672 shares of the company’s stock after selling 38,328 shares during the period. Polymer Capital Management HK LTD’s holdings in Full Truck Alliance were worth $4,660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Full Truck Alliance by 37.8% in the fourth 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 purchased a new stake in Full Truck Alliance in the 4th quarter worth approximately $101,649,000. Empower Harvest Management Services Inc. acquired a new position in Full Truck Alliance in the fourth quarter valued at $97,058,000. Davis Selected Advisers purchased a new position in Full Truck Alliance during the fourth quarter worth approximately $58,432,000. Finally, North of South Capital LLP lifted its stake in shares of Full Truck Alliance by 74.8% in the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company’s stock valued at $61,593,000 after purchasing an additional 2,436,130 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Trading Down 11.6 %

YMM opened at $11.08 on Friday. Full Truck Alliance Co. Ltd. has a 1 year low of $6.66 and a 1 year high of $13.85. The stock’s 50 day simple moving average is $12.41 and its 200-day simple moving average is $10.75. The stock has a market cap of $11.67 billion, a PE ratio of 26.37 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be issued a $0.1444 dividend. This represents a dividend yield of 0.9%. This is a boost 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 payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on YMM. Barclays raised their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. HSBC started coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $16.40.

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.