Octahedron Capital Management L.P. Acquires 233,041 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Octahedron Capital Management L.P. lifted its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 93.6% in the second quarter, HoldingsChannel reports. The firm owned 482,041 shares of the company’s stock after acquiring an additional 233,041 shares during the period. Full Truck Alliance makes up about 4.3% of Octahedron Capital Management L.P.’s portfolio, making the stock its 10th biggest holding. Octahedron Capital Management L.P.’s holdings in Full Truck Alliance were worth $5,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Full Truck Alliance by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company’s stock valued at $1,087,000 after purchasing an additional 1,577 shares during the period. Brooklyn Investment Group boosted its position in Full Truck Alliance by 495.4% in the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company’s stock valued at $31,000 after buying an additional 2,046 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Full Truck Alliance by 9.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,314 shares of the company’s stock valued at $311,000 after buying an additional 2,168 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Full Truck Alliance during the 1st quarter worth $29,000. Finally, US Bancorp DE acquired a new stake in Full Truck Alliance during the first quarter valued at approximately $40,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Trading Up 1.4%

Shares of YMM stock opened at $11.01 on Wednesday. The stock has a 50 day moving average of $12.89 and a two-hundred day moving average of $12.34. The company has a market capitalization of $11.51 billion, a P/E ratio of 20.76 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12 month low of $8.35 and a 12 month high of $14.07.

Full Truck Alliance Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were issued a $0.096 dividend. This represents a dividend yield of 163.0%. The ex-dividend date of this dividend was Friday, October 10th. Full Truck Alliance’s payout ratio is presently 30.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Full Truck Alliance in a report on Wednesday, October 8th. Jefferies Financial Group set a $13.00 price target on shares of Full Truck Alliance in a research note on Monday. Finally, Morgan Stanley set a $14.00 price objective on Full Truck Alliance in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Full Truck Alliance presently has a consensus rating of “Moderate Buy” and an average price target of $14.57.

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.