Oaktree Capital Management LP Buys 1,955,360 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Oaktree Capital Management LP boosted its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 106.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,797,697 shares of the company’s stock after buying an additional 1,955,360 shares during the period. Oaktree Capital Management LP’s holdings in Full Truck Alliance were worth $49,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Schroder Investment Management Group lifted its stake in Full Truck Alliance by 2,789.6% in the 3rd quarter. Schroder Investment Management Group now owns 33,333,051 shares of the company’s stock worth $432,330,000 after purchasing an additional 32,179,501 shares in the last quarter. Invesco Ltd. grew its position in shares of Full Truck Alliance by 66.4% during the third quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock valued at $703,277,000 after purchasing an additional 21,628,993 shares in the last quarter. Capital International Investors bought a new stake in shares of Full Truck Alliance in the third quarter worth about $188,227,000. Norges Bank purchased a new stake in shares of Full Truck Alliance in the second quarter worth about $134,623,000. Finally, Aspex Management HK Ltd lifted its position in shares of Full Truck Alliance by 47.7% in the second quarter. Aspex Management HK Ltd now owns 22,455,623 shares of the company’s stock worth $265,201,000 after buying an additional 7,246,996 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings cut Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. cut Full Truck Alliance from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $8.00 in a report on Monday, January 12th. Jefferies Financial Group set a $13.00 target price on shares of Full Truck Alliance in a report on Monday, November 17th. Barclays reduced their price target on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Full Truck Alliance in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.43.

Full Truck Alliance Stock Down 2.2%

NYSE YMM traded down $0.20 during trading hours on Friday, hitting $8.78. 1,588,159 shares of the company were exchanged, compared to its average volume of 9,033,592. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $8.71 and a 52 week high of $14.07. The stock has a 50-day moving average price of $9.82 and a 200 day moving average price of $11.45. The stock has a market cap of $9.18 billion, a PE ratio of 16.65 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last announced its earnings results on Thursday, March 12th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). The company had revenue of $456.32 million during the quarter, compared to analysts’ expectations of $3.13 billion. Full Truck Alliance had a return on equity of 11.33% and a net margin of 31.92%. As a group, sell-side analysts anticipate that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.46 earnings per share for the current year.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.