Nomura Asset Management Co. Ltd. Reduces Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Nomura Asset Management Co. Ltd. decreased its position in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 33.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,406,204 shares of the company’s stock after selling 1,749,984 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.32% of Full Truck Alliance worth $36,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Full Truck Alliance by 37.8% in the fourth 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 acquired a new stake in Full Truck Alliance during the 4th quarter valued at approximately $101,649,000. Empower Harvest Management Services Inc. purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at $97,058,000. Davis Selected Advisers purchased a new position in shares of Full Truck Alliance during the fourth quarter worth $58,432,000. Finally, North of South Capital LLP raised its stake in shares of Full Truck Alliance by 74.8% during the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company’s stock valued at $61,593,000 after buying an additional 2,436,130 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on YMM. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Barclays raised their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. HSBC started coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.40.

Full Truck Alliance Stock Performance

Full Truck Alliance stock opened at $12.89 on Friday. The company’s fifty day moving average price is $12.30 and its 200 day moving average price is $10.55. The stock has a market capitalization of $13.58 billion, a P/E ratio of 30.68 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 1 year low of $6.66 and a 1 year high of $13.85.

Full Truck Alliance Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.1444 per share. The ex-dividend date of this dividend is 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 payout ratio is currently 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.