Full Truck Alliance Sees Unusually High Options Volume (NYSE:YMM)

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the target of unusually large options trading on Tuesday. Stock investors purchased 6,319 put options on the company. This is an increase of 218% compared to the average daily volume of 1,990 put options.

Full Truck Alliance Price Performance

Shares of NYSE YMM traded down $0.25 during midday trading on Tuesday, hitting $13.10. The stock had a trading volume of 603,151 shares, compared to its average volume of 8,488,842. Full Truck Alliance has a fifty-two week low of $6.66 and a fifty-two week high of $13.85. The firm has a market cap of $13.80 billion, a P/E ratio of 31.21 and a beta of 0.25. The company’s 50-day simple moving average is $12.15 and its 200 day simple moving average is $10.43.

Full Truck Alliance Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be paid a $0.1444 dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio (DPR) is 39.02%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on YMM shares. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. Citigroup lifted their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. HSBC initiated coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. Finally, Barclays boosted their target price on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $16.40.

Institutional Investors Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in Full Truck Alliance during the 3rd quarter worth $3,525,000. Charles Schwab Investment Management Inc. grew its stake in shares of Full Truck Alliance by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after purchasing an additional 100,080 shares during the period. XTX Topco Ltd increased its holdings in Full Truck Alliance by 318.2% in the third quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after purchasing an additional 125,001 shares during the last quarter. IMC Chicago LLC acquired a new position in Full Truck Alliance in the fourth quarter valued at about $263,000. Finally, State Street Corp lifted its stake in Full Truck Alliance by 6.4% in the third quarter. State Street Corp now owns 2,609,508 shares of the company’s stock valued at $23,512,000 after buying an additional 155,834 shares during the period. 39.02% of the stock is owned by 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.