Full Truck Alliance Co. Ltd. (NYSE:YMM) Short Interest Down 38.2% in February

Full Truck Alliance Co. Ltd. (NYSE:YMM) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 21,320,000 shares, a drop of 38.2% from the February 13th total of 34,500,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average trading volume of 8,670,000 shares, the short-interest ratio is currently 2.5 days.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds have recently bought and sold shares of the business. FIL Ltd raised its stake in shares of Full Truck Alliance by 83.0% during the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock worth $559,725,000 after buying an additional 23,468,794 shares during the period. JPMorgan Chase & Co. increased its holdings in Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock worth $409,811,000 after acquiring an additional 10,383,716 shares in the last quarter. Vanguard Group Inc. raised its position in Full Truck Alliance by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock worth $313,164,000 after acquiring an additional 295,301 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in Full Truck Alliance by 7.4% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock valued at $281,534,000 after purchasing an additional 1,802,420 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its position in shares of Full Truck Alliance by 3.9% in the third quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock valued at $218,732,000 after purchasing an additional 921,820 shares during the period. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Trading Up 1.1 %

YMM traded up $0.14 on Friday, reaching $12.90. The stock had a trading volume of 7,913,537 shares, compared to its average volume of 7,961,098. The business’s 50-day moving average price is $11.81 and its two-hundred day moving average price is $10.12. The company has a market cap of $13.59 billion, a P/E ratio of 30.70 and a beta of 0.25. Full Truck Alliance has a 12-month low of $6.66 and a 12-month high of $13.53.

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 is a boost from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a yield of 0.9%. Full Truck Alliance’s dividend payout ratio is presently 46.34%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Citigroup upped their target price on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research report on Thursday, March 6th. Barclays upped their price objective 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. Finally, HSBC assumed coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance has an average rating of “Buy” and a consensus price target of $16.40.

Full Truck Alliance Company Profile

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.