Renaissance Technologies LLC Lowers Stock Holdings in Dingdong (Cayman) Limited (NYSE:DDL)

Renaissance Technologies LLC lessened its stake in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,018,975 shares of the company's stock after selling 316,818 shares during the quarter. Renaissance Technologies LLC owned 0.43% of Dingdong (Cayman) worth $3,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of DDL. Bank of Nova Scotia purchased a new position in Dingdong (Cayman) in the 4th quarter worth about $33,000. Diametric Capital LP purchased a new stake in shares of Dingdong (Cayman) during the 4th quarter valued at about $63,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Dingdong (Cayman) during the 4th quarter valued at about $105,000. Virtu Financial LLC purchased a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at about $115,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Dingdong (Cayman) during the 4th quarter valued at about $157,000. Hedge funds and other institutional investors own 24.66% of the company's stock.

Dingdong (Cayman) Stock Performance

Shares of NYSE DDL traded down $0.04 during midday trading on Tuesday, hitting $2.47. 92,934 shares of the company's stock traded hands, compared to its average volume of 845,640. The firm has a fifty day moving average of $2.79 and a 200 day moving average of $3.38. The stock has a market capitalization of $582.30 million, a price-to-earnings ratio of 27.39 and a beta of 0.55. Dingdong has a 1 year low of $1.28 and a 1 year high of $4.79.

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

Dingdong (Cayman) declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is 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.