Full Truck Alliance (NYSE:YMM) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Full Truck Alliance (NYSE:YMM) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage currently has $18.00 target price on the stock, up from their prior target price of $13.00.

YMM has been the topic of a number of other reports. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. HSBC began 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 objective on the stock. Finally, Citigroup increased their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $14.50.

Full Truck Alliance Price Performance

NYSE:YMM opened at $13.28 on Thursday. The firm’s 50-day moving average price is $11.58 and its 200-day moving average price is $9.91. The company has a market capitalization of $13.99 billion, a PE ratio of 31.61 and a beta of 0.25. Full Truck Alliance has a 1-year low of $5.70 and a 1-year high of $13.53.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, April 18th. Investors of record on Monday, April 7th will be given a dividend of $0.1444 per share. This represents a yield of 0.9%. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s dividend payout ratio is 46.34%.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Full Truck Alliance by 1.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company’s stock valued at $1,128,000 after acquiring an additional 1,722 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Full Truck Alliance by 20.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company’s stock valued at $221,000 after acquiring an additional 3,442 shares during the period. abrdn plc lifted its stake in Full Truck Alliance by 22.6% during the 4th quarter. abrdn plc now owns 22,705 shares of the company’s stock valued at $246,000 after acquiring an additional 4,187 shares during the period. Geode Capital Management LLC lifted its stake in Full Truck Alliance by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock valued at $1,067,000 after acquiring an additional 4,235 shares during the period. Finally, LMR Partners LLP lifted its stake in Full Truck Alliance by 25.4% during the 4th quarter. LMR Partners LLP now owns 27,881 shares of the company’s stock valued at $302,000 after acquiring an additional 5,646 shares during the period. Institutional investors own 39.02% of the company’s stock.

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.