WT Asset Management Ltd Sells 122,744 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

WT Asset Management Ltd decreased its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 576,195 shares of the company’s stock after selling 122,744 shares during the period. Full Truck Alliance comprises 0.5% of WT Asset Management Ltd’s portfolio, making the stock its 20th largest holding. WT Asset Management Ltd’s holdings in Full Truck Alliance were worth $6,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in Full Truck Alliance by 3.1% during the first quarter. Invesco Ltd. now owns 30,965,571 shares of the company’s stock valued at $395,430,000 after purchasing an additional 917,263 shares during the period. Vanguard Group Inc. lifted its position in Full Truck Alliance by 1.5% during the first quarter. Vanguard Group Inc. now owns 29,373,877 shares of the company’s stock valued at $375,104,000 after purchasing an additional 430,834 shares during the period. Krane Funds Advisors LLC lifted its position in Full Truck Alliance by 23.2% during the first quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company’s stock valued at $334,665,000 after purchasing an additional 4,931,028 shares during the period. Goldman Sachs Group Inc. lifted its position in Full Truck Alliance by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 10,761,409 shares of the company’s stock valued at $137,423,000 after purchasing an additional 935,344 shares during the period. Finally, Davis Selected Advisers lifted its position in Full Truck Alliance by 44.8% during the first quarter. Davis Selected Advisers now owns 7,819,344 shares of the company’s stock valued at $99,853,000 after purchasing an additional 2,418,953 shares during the period. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Trading Down 0.4%

YMM opened at $13.34 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $8.20 and a 1-year high of $14.02. The company has a market capitalization of $13.95 billion, a PE ratio of 23.81 and a beta of 0.20. The firm’s 50 day simple moving average is $12.49 and its two-hundred day simple moving average is $12.08.

Full Truck Alliance Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be given a $0.096 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 60.0%. Full Truck Alliance’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Full Truck Alliance in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.00.

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.