Full Truck Alliance (NYSE:YMM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Full Truck Alliance (NYSE:YMM) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other analysts have also recently commented on the stock. 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. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Finally, Weiss Ratings raised shares of Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.30.

Full Truck Alliance Stock Performance

Full Truck Alliance stock opened at $8.34 on Friday. The stock’s 50 day simple moving average is $8.45 and its two-hundred day simple moving average is $8.85. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.75 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 $13.40.

Full Truck Alliance (NYSE:YMM) last announced its earnings results on Friday, August 14th. The company reported $0.20 earnings per share (EPS) 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%. On average, analysts predict that Full Truck Alliance will post 0.71 earnings per share for the current year.

Full Truck Alliance Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 14th. Full Truck Alliance’s payout ratio is 57.63%.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds and other institutional investors have recently modified their holdings of YMM. Robeco Institutional Asset Management B.V. increased its holdings in Full Truck Alliance by 65.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,426,014 shares of the company’s stock worth $28,333,000 after acquiring an additional 1,360,147 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 920,948 shares in the last quarter. Hsbc Holdings PLC lifted its holdings 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 purchasing an additional 758,900 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Full Truck Alliance in the first quarter worth approximately $11,592,000. Finally, C WorldWide Group Holding A S boosted its position in shares of Full Truck Alliance by 0.8% in the second quarter. C WorldWide Group Holding A S now owns 1,153,400 shares of the company’s stock worth $9,366,000 after purchasing an additional 9,100 shares during the period. 39.02% of the stock is owned by institutional investors.

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.