Full Truck Alliance (NYSE:YMM) Shares Down 3.8% – Here’s Why

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) traded down 3.8% during mid-day trading on Wednesday. The company traded as low as $8.60 and last traded at $8.5050. Approximately 261,352 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 7,808,854 shares. The stock had previously closed at $8.84.

Analysts Set New Price Targets

YMM has been the topic of several analyst reports. Weiss Ratings upgraded shares of Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. 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. Finally, UBS Group reissued a “buy” rating and set a $13.36 target price on shares of Full Truck Alliance in a research report on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Full Truck Alliance has a consensus rating of “Moderate Buy” and an average target price of $11.30.

Full Truck Alliance Stock Performance

The stock has a 50 day moving average of $8.49 and a two-hundred day moving average of $8.62. The firm has a market capitalization of $8.88 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.79 and a beta of 0.22.

Full Truck Alliance (NYSE:YMM) last posted 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 firm had revenue of $497.73 million during 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%. Sell-side analysts predict that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.71 EPS for the current year.

Full Truck Alliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 14th will be given a $0.0840 dividend. This represents a $0.34 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, October 14th. Full Truck Alliance’s dividend payout ratio (DPR) is currently 57.63%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Full Truck Alliance in the first quarter valued at about $11,592,000. Robeco Institutional Asset Management B.V. grew its position in Full Truck Alliance by 65.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,426,014 shares of the company’s stock worth $28,333,000 after buying an additional 1,360,147 shares in the last quarter. Bank of America Corp DE increased its stake in Full Truck Alliance by 57.7% during the first quarter. Bank of America Corp DE now owns 2,515,788 shares of the company’s stock valued at $20,881,000 after acquiring an additional 920,948 shares during the period. Hsbc Holdings PLC increased its stake in Full Truck Alliance by 62.4% during the first quarter. Hsbc Holdings PLC now owns 1,975,692 shares of the company’s stock valued at $16,301,000 after acquiring an additional 758,900 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Full Truck Alliance during the first quarter valued at about $2,881,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd. is a China-based digital freight platform that connects shippers with truck drivers and logistics companies. The company operates through its Yunmanman and Huochebang platforms, which help users find transportation capacity, arrange shipments and manage freight transactions through online tools.

Its services are designed to improve the efficiency of China’s road freight industry by matching cargo with available trucks and providing information and transaction support.