Dingdong (Cayman) Limited (NYSE:DDL) Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. decreased its holdings in shares of Dingdong (Cayman) Limited (NYSE:DDL) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,125,973 shares of the company’s stock after selling 432,543 shares during the quarter. Dingdong (Cayman) comprises about 1.6% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 17th biggest position. Platinum Investment Management Ltd. owned about 3.44% of Dingdong (Cayman) worth $26,653,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) during the third quarter worth $115,000. Cornerstone Investment Partners LLC acquired a new position in Dingdong (Cayman) in the fourth quarter valued at $160,000. Quadrature Capital Ltd boosted its holdings in Dingdong (Cayman) by 87.9% in the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after acquiring an additional 22,302 shares during the last quarter. Centiva Capital LP acquired a new position in Dingdong (Cayman) in the third quarter valued at $170,000. Finally, XTX Topco Ltd acquired a new position in Dingdong (Cayman) in the third quarter valued at $225,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Trading Down 2.4 %

Shares of Dingdong (Cayman) stock opened at $3.07 on Wednesday. Dingdong has a twelve month low of $1.08 and a twelve month high of $4.79. The stock has a market capitalization of $724.04 million, a P/E ratio of 34.06 and a beta of 0.44. The business’s fifty day moving average price is $3.33 and its 200 day moving average price is $3.49.

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

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