Full Truck Alliance (NYSE:YMM) Stock Bumped Up to “Buy” by 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 report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $8.60 to $10.00 in a research report on Monday, June 29th. Finally, UBS Group reaffirmed a “buy” rating and issued a $13.36 price objective on shares of Full Truck Alliance in a research note 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, Full Truck Alliance has an average rating of “Moderate Buy” and a consensus price target of $11.30.

Full Truck Alliance Stock Performance

Shares of YMM opened at $8.28 on Friday. The stock has a market capitalization of $8.63 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.75 and a beta of 0.22. The company’s fifty day moving average is $8.46 and its two-hundred day moving average is $8.62. Full Truck Alliance has a 1 year low of $7.45 and a 1 year high of $13.40.

Full Truck Alliance (NYSE:YMM) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Full Truck Alliance had a net margin of 33.07% and a return on equity of 10.68%. The company had revenue of $497.73 million during the quarter, compared to the consensus estimate of $463.13 million. Sell-side analysts predict that Full Truck Alliance will post 0.71 EPS for the current year.

Full Truck Alliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be given a $0.0840 dividend. This represents a $0.34 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 14th. Full Truck Alliance’s dividend payout ratio is currently 55.93%.

Institutional Trading of Full Truck Alliance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new position in shares of Full Truck Alliance in the first quarter valued at approximately $25,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Full Truck Alliance in the fourth quarter valued at $39,000. Handelsbanken Fonder AB lifted its position in Full Truck Alliance by 2.7% during the second quarter. Handelsbanken Fonder AB now owns 275,182 shares of the company’s stock worth $2,234,000 after buying an additional 7,284 shares during the period. QRG Capital Management Inc. boosted its stake in Full Truck Alliance by 61.1% in the 2nd quarter. QRG Capital Management Inc. now owns 21,039 shares of the company’s stock worth $171,000 after buying an additional 7,976 shares during the last quarter. Finally, C WorldWide Group Holding A S increased its stake in shares of Full Truck Alliance by 0.8% during the 2nd quarter. C WorldWide Group Holding A S now owns 1,153,400 shares of the company’s stock valued at $9,366,000 after acquiring an additional 9,100 shares during the last quarter. Hedge funds and other institutional investors own 39.02% of the company’s stock.

About Full Truck Alliance

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.