AI Squared Management Ltd Makes New $3.16 Million Investment in Full Truck Alliance Co. Ltd. (NYSE:YMM)

AI Squared Management Ltd bought a new stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 292,000 shares of the company’s stock, valued at approximately $3,159,000. Full Truck Alliance makes up approximately 3.2% of AI Squared Management Ltd’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds have also recently bought and sold shares of YMM. Y Intercept Hong Kong Ltd acquired a new stake in shares of Full Truck Alliance in the 3rd quarter valued at $3,525,000. Charles Schwab Investment Management Inc. boosted its position in shares of Full Truck Alliance by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock valued at $8,217,000 after acquiring an additional 100,080 shares during the period. XTX Topco Ltd boosted its position in shares of Full Truck Alliance by 318.2% in the third quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after acquiring an additional 125,001 shares during the period. IMC Chicago LLC acquired a new stake in shares of Full Truck Alliance in the fourth quarter worth $263,000. Finally, State Street Corp increased its position in Full Truck Alliance by 6.4% during the third quarter. State Street Corp now owns 2,609,508 shares of the company’s stock worth $23,512,000 after acquiring an additional 155,834 shares during the period. 39.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Full Truck Alliance Stock Performance

Full Truck Alliance stock opened at $13.34 on Tuesday. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85. The firm has a market cap of $14.05 billion, a P/E ratio of 31.75 and a beta of 0.25. The business’s fifty day moving average is $12.15 and its two-hundred day moving average is $10.43.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.1444 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a yield of 0.9%. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio is currently 39.02%.

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.