abrdn plc Sells 16,696 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

abrdn plc lowered its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,518 shares of the company’s stock after selling 16,696 shares during the period. abrdn plc’s holdings in Full Truck Alliance were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in YMM. Mubadala Investment Co PJSC grew its holdings in shares of Full Truck Alliance by 45.7% in the 1st quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company’s stock valued at $121,966,000 after acquiring an additional 5,263,157 shares in the last quarter. Sylebra Capital LLC bought a new position in Full Truck Alliance in the first quarter valued at approximately $36,877,000. Polunin Capital Partners Ltd acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth approximately $29,632,000. Jupiter Asset Management Ltd. bought a new stake in shares of Full Truck Alliance during the 1st quarter worth approximately $13,854,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Full Truck Alliance by 1,220.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock worth $15,961,000 after purchasing an additional 1,834,900 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their target price on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd.

Full Truck Alliance Stock Performance

Full Truck Alliance stock opened at $8.99 on Wednesday. Full Truck Alliance Co. Ltd. has a 52 week low of $5.70 and a 52 week high of $10.29. The stock has a market capitalization of $9.47 billion, a P/E ratio of 25.66 and a beta of 0.23. The stock has a 50-day simple moving average of $8.39 and a 200 day simple moving average of $8.33.

Full Truck Alliance (NYSE:YMM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $380.38 million for the quarter, compared to the consensus estimate of $369.24 million. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. Research analysts forecast that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current year.

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.