OVERSEA CHINESE BANKING Corp Ltd Acquires 829,316 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 106.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,610,669 shares of the company’s stock after acquiring an additional 829,316 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Full Truck Alliance were worth $20,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Full Truck Alliance by 172.4% in the 1st quarter. Royal Bank of Canada now owns 34,765 shares of the company’s stock worth $444,000 after purchasing an additional 22,001 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Full Truck Alliance in the second quarter worth about $2,914,000. ABS Direct Equity Fund LLC raised its stake in shares of Full Truck Alliance by 391.6% in the second quarter. ABS Direct Equity Fund LLC now owns 496,480 shares of the company’s stock worth $5,863,000 after buying an additional 395,480 shares during the period. Truist Financial Corp raised its stake in shares of Full Truck Alliance by 25.6% in the second quarter. Truist Financial Corp now owns 31,132 shares of the company’s stock worth $368,000 after buying an additional 6,344 shares during the period. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Full Truck Alliance during the 2nd quarter valued at about $3,130,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Stock Performance

Shares of NYSE:YMM opened at $9.85 on Thursday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 18.58 and a beta of 0.22. The firm has a fifty day moving average price of $11.26 and a 200 day moving average price of $12.08. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $9.45 and a fifty-two week high of $14.07.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Industrial Alliance Securities set a $8.00 target price on shares of Full Truck Alliance in a report on Monday. JPMorgan Chase & Co. cut shares of Full Truck Alliance from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $11.00 to $8.00 in a research note on Monday. Morgan Stanley set a $14.00 target price on shares of Full Truck Alliance in a research note on Monday, November 17th. Barclays cut their price target on Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 19th. Finally, Weiss Ratings downgraded Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.71.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.