Nuveen Asset Management LLC Takes Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Nuveen Asset Management LLC purchased a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,578,207 shares of the company’s stock, valued at approximately $60,356,000.

A number of other institutional investors have also recently made changes to their positions in YMM. FIL Ltd lifted its position 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 valued at $559,725,000 after buying an additional 23,468,794 shares during the last quarter. Aspex Management HK Ltd purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at $164,557,000. JPMorgan Chase & Co. lifted its position in shares of Full Truck Alliance by 37.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after buying an additional 10,383,716 shares during the last quarter. Norges Bank purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at $101,649,000. Finally, Empower Harvest Management Services Inc. purchased a new stake in Full Truck Alliance during the 4th quarter worth about $97,058,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a report on Thursday, March 6th. JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Barclays increased their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, HSBC assumed coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Full Truck Alliance Stock Down 1.2%

NYSE:YMM opened at $12.34 on Monday. The business’s 50-day moving average price is $11.79 and its two-hundred day moving average price is $11.24. Full Truck Alliance Co. Ltd. has a twelve month low of $6.66 and a twelve month high of $13.85. The stock has a market cap of $12.90 billion, a P/E ratio of 29.37 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were issued a $0.1444 dividend. The ex-dividend date was Monday, April 7th. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio (DPR) is presently 39.02%.

Full Truck Alliance 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.