SG Americas Securities LLC has significantly reduced its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM), selling 2,227,777 shares during the third quarter of 2023. Following this transaction, the institutional investor now holds 180,819 shares, valued at approximately $2,345,000 at the end of the reporting period.
Several other institutional investors have also adjusted their holdings in Full Truck Alliance. Notably, Robeco Institutional Asset Management B.V. increased its position by 2.4%, acquiring an additional 58,800 shares to reach a total of 2,477,746 shares, valued at $32,136,000. Tuttle Capital Management LLC entered the market with a new stake worth $170,000, while Newport Asia LLC invested approximately $1,712,000 in the same quarter. Exchange Traded Concepts LLC slightly increased its stake by 0.6%, resulting in ownership of 248,174 shares valued at $3,219,000. Additionally, Amiral Gestion raised its holdings by an impressive 106.8%, acquiring 235,000 shares for a total valuation of $5,901,000. Overall, institutional investors now control 39.02% of Full Truck Alliance’s stock.
Stock Performance and Market Outlook
As of Wednesday, shares of Full Truck Alliance opened at $10.09. The company’s fifty-day moving average price stands at $11.32, while the two-hundred-day moving average is at $12.09. Full Truck Alliance boasts a market capitalization of $10.55 billion, with a price-to-earnings ratio of 19.03 and a beta of 0.22. The stock has experienced a 52-week low of $9.45 and a high of $14.07.
Many analysts are closely monitoring Full Truck Alliance’s stock performance as the company continues to operate a leading digital freight platform in China. This platform connects shippers with a vast network of independent truck drivers, focusing on load matching to streamline the booking process. By doing so, Full Truck Alliance enhances asset utilization for both shippers and drivers through features such as real-time route optimization, electronic waybills, and digital payment solutions.
Investors and analysts alike are keen to see how these recent changes in institutional holdings will influence the company’s performance in the coming months. For those interested in the latest updates on Full Truck Alliance and its market activities, resources like HoldingsChannel.com offer insights into 13F filings and insider trades for the company.
