Diametric Capital LP Makes New Investment in Dingdong (Cayman) Limited (NYSE:DDL)

Diametric Capital LP purchased a new stake in Dingdong (Cayman) Limited (NYSE:DDL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 19,110 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DDL. Arrowstreet Capital Limited Partnership grew its position in Dingdong (Cayman) by 397.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company’s stock worth $5,827,000 after acquiring an additional 1,419,190 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Dingdong (Cayman) by 195.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company’s stock valued at $6,628,000 after purchasing an additional 1,336,471 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Dingdong (Cayman) during the 4th quarter worth $1,197,000. Harvest Fund Management Co. Ltd increased its position in shares of Dingdong (Cayman) by 11,194.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 302,680 shares of the company’s stock worth $993,000 after purchasing an additional 300,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Dingdong (Cayman) by 268.6% in the 4th quarter. JPMorgan Chase & Co. now owns 364,696 shares of the company’s stock valued at $1,196,000 after buying an additional 265,762 shares during the period. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Price Performance

NYSE DDL opened at $2.80 on Thursday. Dingdong has a 12 month low of $1.08 and a 12 month high of $4.79. The stock has a market capitalization of $661.44 million, a P/E ratio of 31.11 and a beta of 0.44. The firm’s 50-day moving average is $3.23 and its two-hundred day moving average is $3.51.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. The firm had revenue of $808.99 million during the quarter, compared to analysts’ expectations of $798.85 million. As a group, analysts anticipate that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) announced that its Board of Directors has authorized a share buyback plan on Thursday, March 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.