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

Platinum Investment Management Ltd. lessened its stake in shares of Dingdong (Cayman) Limited (NYSE:DDL) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 8,125,973 shares of the company’s stock after selling 432,543 shares during the period. Dingdong (Cayman) accounts for 1.6% of Platinum Investment Management Ltd.’s portfolio, making the stock its 17th largest position. Platinum Investment Management Ltd.’s holdings in Dingdong (Cayman) were worth $26,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Dingdong (Cayman) during the third quarter worth about $115,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Dingdong (Cayman) during the fourth quarter worth about $160,000. Quadrature Capital Ltd increased its position in shares of Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after acquiring an additional 22,302 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Dingdong (Cayman) during the third quarter worth about $170,000. Finally, XTX Topco Ltd purchased a new stake in shares of Dingdong (Cayman) during the third quarter worth about $225,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Down 2.4 %

Shares of Dingdong (Cayman) stock opened at $3.07 on Wednesday. The firm has a market cap of $724.04 million, a P/E ratio of 34.06 and a beta of 0.44. Dingdong has a fifty-two week low of $1.08 and a fifty-two week high of $4.79. The business has a 50-day moving average price of $3.33 and a 200 day moving average price of $3.49.

Dingdong (Cayman) (NYSE:DDL) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $808.99 million during 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%. As a group, equities research analysts anticipate that Dingdong will post 0.07 earnings per share for the current year.

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