UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $1.96 Million Position in Dingdong (Cayman) Limited (NYSE:DDL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Dingdong (Cayman) Limited (NYSE:DDL) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 597,053 shares of the company’s stock, valued at approximately $1,958,000.

A number of other hedge funds have also modified their holdings of the stock. Bank of Nova Scotia acquired a new position in shares of Dingdong (Cayman) in the 4th quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Dingdong (Cayman) in the 4th quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Dingdong (Cayman) by 319.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company’s stock worth $42,000 after purchasing an additional 9,797 shares during the period. Two Sigma Advisers LP purchased a new position in Dingdong (Cayman) during the 4th quarter worth approximately $47,000. Finally, Diametric Capital LP acquired a new stake in Dingdong (Cayman) during the 4th quarter valued at $63,000. 24.66% of the stock is currently owned by institutional investors and hedge funds.

Dingdong (Cayman) Stock Performance

DDL opened at $2.05 on Friday. The company has a market cap of $483.09 million, a PE ratio of 22.72 and a beta of 0.47. Dingdong has a 52-week low of $1.62 and a 52-week high of $4.79. The stock has a 50-day moving average of $2.29 and a 200-day moving average of $3.08.

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

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Dingdong (Cayman) from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 24th.

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.