Allspring Global Investments Holdings LLC lifted its holdings in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Free Report) by 732.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,040,244 shares of the company's stock after purchasing an additional 2,675,244 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.29% of Dingdong (Cayman) worth $8,209,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in Dingdong (Cayman) by 397.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company's stock worth $5,827,000 after buying an additional 1,419,190 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Dingdong (Cayman) by 195.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company's stock worth $6,628,000 after buying an additional 1,336,471 shares during the period. Marshall Wace LLP boosted its stake in Dingdong (Cayman) by 164.8% during the fourth quarter. Marshall Wace LLP now owns 1,924,912 shares of the company's stock worth $6,314,000 after buying an additional 1,198,006 shares during the period. Polymer Capital Management HK LTD purchased a new position in Dingdong (Cayman) during the fourth quarter worth $2,590,000. Finally, Walleye Capital LLC purchased a new position in Dingdong (Cayman) during the fourth quarter worth $2,227,000. 24.66% of the stock is owned by hedge funds and other institutional investors.
Dingdong (Cayman) Stock Performance
NYSE DDL traded up $0.02 on Friday, hitting $2.08. 109,062 shares of the stock were exchanged, compared to its average volume of 869,071. The stock has a fifty day moving average price of $2.20 and a two-hundred day moving average price of $2.79. The firm has a market capitalization of $491.36 million, a P/E ratio of 13.87 and a beta of 0.46. Dingdong has a 52-week low of $1.62 and a 52-week high of $4.79.
Analyst Ratings Changes
Separately, Wall Street Zen lowered shares of Dingdong (Cayman) from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th.
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Dingdong (Cayman) Company Profile
(
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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.
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