With 53% Institutional Ownership, Full Truck Alliance Co. Ltd. (NYSE:YMM) Is a Favorite Amongst the Big Guns
With 53% Institutional Ownership, Full Truck Alliance Co. Ltd. (NYSE:YMM) Is a Favorite Amongst the Big Guns
Key Insights
主要見解
- Given the large stake in the stock by institutions, Full Truck Alliance's stock price might be vulnerable to their trading decisions
- The top 11 shareholders own 50% of the company
- 10% of Full Truck Alliance is held by insiders
- 鑑於機構在股票中持有大量股份,滿幫集團的股價可能會容易受到他們交易決策的影響
- 前11大股東擁有該公司50%的股份。
- 滿幫集團的10%股份由內部持有
If you want to know who really controls Full Truck Alliance Co. Ltd. (NYSE:YMM), then you'll have to look at the makeup of its share registry. With 53% stake, institutions possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk).
如果你想知道誰真正控制着滿幫集團有限公司(紐交所:YMM),那麼你就需要查看其股權登記簿的構成。機構持有53%的股份,是該公司中持股最多的一方。換句話說,該集團面臨最大的上行潛力(或下行風險)。
Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.
由於機構業主擁有巨額資源和流動性資產,他們的投資決策往往具有很大的影響力,尤其是對個人投資者。因此,擁有大量機構資金投資於一家公司通常被視爲一種理想的特徵。
In the chart below, we zoom in on the different ownership groups of Full Truck Alliance.
在下圖中,我們對Full Truck Alliance的不同所有權群體進行了放大。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240910/0-6bb3b6bb2eed49d240312e627e765f37-0-8e6e439ef3bea152c932d779f05a8e74.png/big)
What Does The Institutional Ownership Tell Us About Full Truck Alliance?
機構所有權能告訴我們什麼關於全貨車聯盟嗎?
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
許多機構衡量其業績的標準是一個近似於當地市場的指數。因此,他們通常更加關注包括在主要指數中的公司。
Full Truck Alliance already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Full Truck Alliance's earnings history below. Of course, the future is what really matters.
全職卡車聯盟已經有機構在股權登記冊上。確實,他們在公司擁有一定的利益。這表明在專業投資者中有一定的信譽。但我們不能僅僅依賴這個事實,因爲機構有時也會做出糟糕的投資,就像其他人一樣。如果多個機構同時改變對一隻股票的看法,股價可能會快速下跌。因此,查看下面的全職卡車聯盟的收益歷史是值得的。當然,未來才是真正重要的。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240910/0-6bb3b6bb2eed49d240312e627e765f37-1-a7a42e674d3ec47bf61ddb2434f5a0ce.png/big)
Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Hedge funds don't have many shares in Full Truck Alliance. SB Investment Advisers (UK) Limited is currently the company's largest shareholder with 15% of shares outstanding. In comparison, the second and third largest shareholders hold about 10% and 5.9% of the stock. Hui Zhang, who is the second-largest shareholder, also happens to hold the title of Chief Executive Officer.
投資者應注意,機構實際上擁有超過一半的公司股份,因此他們可以共同行使重要的權力。對於Full Truck Alliance來說,對沖基金並未持有太多股份。Sb Investment Advisers (UK) Limited目前是該公司的最大股東,持有15%的股份。相比之下,第二大和第三大股東持有約10%和5.9%的股份。同時,第二大股東張暉也是首席執行官。
Looking at the shareholder registry, we can see that 50% of the ownership is controlled by the top 11 shareholders, meaning that no single shareholder has a majority interest in the ownership.
查看股東登記冊,我們發現其中 50% 的所有權受前11位股東控制,這意味着沒有單一股東掌握所有權益。
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
儘管研究公司的機構持股可以增加您的研究價值,但研究分析師的建議也是一個好習慣,以更深入地了解股票的預期表現。有相當數量的分析師關注該股,因此了解他們對未來的總體觀點可能很有用。
Insider Ownership Of Full Truck Alliance
全貨車聯盟的內部所有權
The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
在不同國家,內部人員的定義可能會略有不同,但董事會成員始終是內部人員。管理層最終向董事會負責。然而,如果管理人員是創始人或CEO,那麼成爲執行董事會成員也是很常見的。
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
當內部人持股情況表明領導層思考和公司真正所有者一樣時,內部所有權是積極的。然而,高達內部人士所有權也可能爲公司內的小團體帶來巨大的權力。在某些情況下,這可能是負面的。
Our information suggests that insiders maintain a significant holding in Full Truck Alliance Co. Ltd.. Insiders own US$775m worth of shares in the US$7.5b company. That's quite meaningful. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. You can click here to see if those insiders have been buying or selling.
我們的信息顯示,內部人員持有Full Truck Alliance Co. Ltd.的大量股份。內部人員在這家總市值爲75億美元的公司中擁有7,7500萬美元的股份,這相當有意義。大多數人會認爲這顯示了與股東的良好一致性,尤其是在這樣一家規模的公司中。您可以點擊此處查看這些內部人員是否一直在買入或賣出。
General Public Ownership
一般大衆所有權
With a 16% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Full Truck Alliance. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
普通公衆擁有16%的股權,主要由個人投資者組成,在Full Truck Alliance的決策中有一定的影響力。雖然擁有的股權規模可觀,但如果決策與其他大股東不一致,可能無法改變公司的政策。
Private Equity Ownership
股權投資公司持有8.8%的股份,有能力參與塑造以價值創造爲重點的公司策略。一些投資者可能會因此而受到鼓舞,因爲股權投資公司有時可以鼓勵市場看到公司的價值,從而採取有益的策略。另外,那些持有者可能在將其上市後退出投資。
With a stake of 21%, private equity firms could influence the Full Truck Alliance board. Sometimes we see private equity stick around for the long term, but generally speaking they have a shorter investment horizon and -- as the name suggests -- don't invest in public companies much. After some time they may look to sell and redeploy capital elsewhere.
股權投資公司持有21%的股權,可能會對滴滴貨拉拉的董事會產生影響。有時候我們會看到股權投資公司長揸股份,但總體來說,他們的投資週期較短,並且正如其名稱所示,他們很少投資公共公司。經過一段時間後,他們可能會考慮出售並將資金用於其他地方。
Next Steps:
下一步:
While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 1 warning sign we've spotted with Full Truck Alliance .
雖然考慮到公司的不同持有者是很值得的,但還有其他更重要的因素。爲此,您應該注意到我們在滴滴貨拉拉發現的1個警示信號。
If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.
如果您希望了解分析師在未來增長方面的預測,請務必不要錯過這份免費報告。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注:本文中的數據是使用最後一個財務報表日期結束的爲期12個月的數據計算的。這可能與全年年度報告數據不一致。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
譯文內容由第三人軟體翻譯。