Polymer Capital Management HK LTD Takes $2.59 Million Position in Dingdong (Cayman) Limited (NYSE:DDL)

Polymer Capital Management HK LTD bought a new position in shares of Dingdong (Cayman) Limited (NYSE:DDL) during the fourth quarter, HoldingsChannel.com reports. The firm bought 789,648 shares of the company’s stock, valued at approximately $2,590,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diametric Capital LP acquired a new position in Dingdong (Cayman) in the fourth quarter valued at $63,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Dingdong (Cayman) during the 4th quarter valued at $105,000. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) during the 3rd quarter worth $115,000. Quadrature Capital Ltd lifted its holdings in Dingdong (Cayman) by 87.9% in the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after buying an additional 22,302 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in Dingdong (Cayman) in the 4th quarter valued at about $157,000. 24.66% of the stock is owned by hedge funds and other institutional investors.

Dingdong (Cayman) Stock Performance

NYSE:DDL opened at $2.33 on Friday. The stock has a market cap of $549.23 million, a price-to-earnings ratio of 25.83 and a beta of 0.55. Dingdong has a one year low of $1.08 and a one year high of $4.79. The business’s 50-day simple moving average is $3.19 and its 200 day simple moving average is $3.50.

Dingdong (Cayman) (NYSE:DDL) last announced its earnings results on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $808.99 million for the quarter, compared to analyst estimates of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. On average, equities research analysts predict that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) declared that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Dingdong (Cayman) Profile

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.