Burgundy Asset Management Ltd. Purchases 859,901 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Burgundy Asset Management Ltd. grew its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 1,541.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 915,700 shares of the company’s stock after purchasing an additional 859,901 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Full Truck Alliance were worth $9,908,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in YMM. Barclays PLC acquired a new position in shares of Full Truck Alliance in the 3rd quarter valued at $3,566,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $2,511,000. Maple Brown Abbott Ltd lifted its stake in shares of Full Truck Alliance by 104.8% in the 4th quarter. Maple Brown Abbott Ltd now owns 117,472 shares of the company’s stock valued at $1,271,000 after purchasing an additional 60,100 shares during the period. Blue Trust Inc. lifted its stake in shares of Full Truck Alliance by 120.9% in the 4th quarter. Blue Trust Inc. now owns 22,090 shares of the company’s stock valued at $239,000 after purchasing an additional 12,091 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $647,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Wall Street Analysts Forecast Growth

YMM has been the topic of a number of analyst reports. HSBC initiated coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price target on the stock. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research note on Thursday, March 6th. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Barclays raised their price objective on 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. Finally, JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Full Truck Alliance Trading Down 6.5%

Shares of Full Truck Alliance stock opened at $11.13 on Friday. The company has a market capitalization of $11.64 billion, a PE ratio of 26.50 and a beta of 0.20. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The stock’s fifty day simple moving average is $11.70 and its 200 day simple moving average is $11.29.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were paid a $0.1444 dividend. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend was Monday, April 7th. This represents a dividend yield of 0.9%. Full Truck Alliance’s dividend payout ratio (DPR) 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.