Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.30.

Several brokerages have recently commented on YMM. Weiss Ratings lowered shares of Full Truck Alliance from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $8.60 to $10.00 in a report on Monday, June 29th. Nomura set a $11.00 target price on shares of Full Truck Alliance in a research report on Monday, June 15th. Finally, UBS Group restated a “buy” rating and set a $13.36 target price on shares of Full Truck Alliance in a report on Wednesday, August 5th.

Full Truck Alliance Price Performance

NYSE:YMM opened at $8.43 on Tuesday. The stock has a market cap of $8.78 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.74 and a beta of 0.22. Full Truck Alliance has a fifty-two week low of $7.45 and a fifty-two week high of $14.07. The stock’s 50-day moving average is $8.70 and its two-hundred day moving average is $8.59.

Full Truck Alliance (NYSE:YMM) last issued its earnings results on Friday, August 14th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $497.73 million for the quarter, compared to analyst estimates of $463.13 million. Full Truck Alliance had a return on equity of 10.68% and a net margin of 33.07%. On average, equities research analysts anticipate that Full Truck Alliance will post 0.71 earnings per share for the current year.

Full Truck Alliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be issued a dividend of $0.0840 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 4.0%. Full Truck Alliance’s dividend payout ratio is currently 54.24%.

Institutional Investors Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new position in shares of Full Truck Alliance in the first quarter valued at approximately $25,000. Rockefeller Capital Management L.P. bought a new stake in shares of Full Truck Alliance during the 4th quarter worth $39,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Full Truck Alliance by 480.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,826 shares of the company’s stock worth $73,000 after buying an additional 5,651 shares during the period. Hantz Financial Services Inc. grew its stake in Full Truck Alliance by 23.1% in the 4th quarter. Hantz Financial Services Inc. now owns 13,946 shares of the company’s stock valued at $150,000 after buying an additional 2,613 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Full Truck Alliance by 61.1% in the 2nd quarter. QRG Capital Management Inc. now owns 21,039 shares of the company’s stock worth $171,000 after acquiring an additional 7,976 shares during the period. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Company Profile

Full Truck Alliance Co, Ltd., also known as Manbang Group, operates a digital freight platform in China. Through its Yunmanman and Huochebang platforms, the company connects shippers with truck drivers and logistics providers, helping users arrange the transportation of goods across the country.

The company’s services include online freight matching, shipment listing and transaction support, route and vehicle information, and tools that help users manage deliveries. Its platform is designed to improve efficiency and transparency in China’s fragmented road-freight market by helping shippers find available capacity and allowing drivers to identify suitable loads.

Full Truck Alliance was formed in 2017 through the combination of Yunmanman and Huochebang and serves customers and transportation participants across China.