Full Truck Alliance (NYSE:YMM) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Full Truck Alliance (NYSE:YMM) from an overweight rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports. They currently have $10.00 price objective on the stock, down from their previous price objective of $18.00.

YMM has been the subject of several other reports. Barclays raised their price target on Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a report on Thursday, March 6th. HSBC began coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $14.80.

Full Truck Alliance Stock Down 3.0 %

NYSE YMM opened at $10.01 on Monday. The stock has a market capitalization of $10.55 billion, a P/E ratio of 23.83 and a beta of 0.19. Full Truck Alliance has a 52-week low of $6.66 and a 52-week high of $13.85. The firm has a 50-day moving average price of $12.15 and a 200 day moving average price of $10.86.

Full Truck Alliance Increases Dividend

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

Institutional Investors Weigh In On Full Truck Alliance

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at $64,000. Townsquare Capital LLC acquired a new position in Full Truck Alliance in the fourth quarter valued at $111,000. Wolverine Trading LLC purchased a new stake in Full Truck Alliance during the fourth quarter valued at about $115,000. Vise Technologies Inc. acquired a new stake in Full Truck Alliance during the fourth quarter worth about $130,000. Finally, Truist Financial Corp purchased a new position in shares of Full Truck Alliance in the 4th quarter worth about $143,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

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.