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

Veritas Asset Management LLP bought a new stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 72,884 shares of the company’s stock, valued at approximately $789,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Alkeon Capital Management LLC lifted its stake 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. First Beijing Investment Ltd acquired a new stake in shares of Full Truck Alliance in the third quarter valued at about $123,804,000. Bamco Inc. NY lifted its stake in shares of Full Truck Alliance by 1.2% in the third quarter. Bamco Inc. NY now owns 10,405,899 shares of the company’s stock valued at $93,757,000 after purchasing an additional 125,853 shares during the period. Empower Harvest Management Services Inc. acquired a new position in Full Truck Alliance during the fourth quarter worth about $97,058,000. Finally, North of South Capital LLP raised its position in Full Truck Alliance by 74.8% during the fourth quarter. North of South Capital LLP now owns 5,692,489 shares of the company’s stock worth $61,593,000 after acquiring an additional 2,436,130 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Analyst Ratings Changes

YMM has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th. Citigroup boosted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th.

Full Truck Alliance Stock Down 3.8 %

Shares of YMM opened at $11.85 on Tuesday. The firm has a 50-day moving average price of $11.44 and a 200 day moving average price of $9.69. The firm has a market capitalization of $12.48 billion, a PE ratio of 28.20 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 52-week low of $5.70 and a 52-week high of $13.03.

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.