Bank of America Corp DE Raises Position in Dingdong (Cayman) Limited (NYSE:DDL)

Bank of America Corp DE raised its holdings in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 1,447.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,461 shares of the company's stock after purchasing an additional 223,052 shares during the period. Bank of America Corp DE owned about 0.10% of Dingdong (Cayman) worth $782,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DDL. Bank of Nova Scotia acquired a new position in Dingdong (Cayman) during the 4th quarter worth $33,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dingdong (Cayman) during the 4th quarter valued at $35,000. Diametric Capital LP acquired 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 bought a new stake in Dingdong (Cayman) in the fourth quarter worth approximately $105,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in Dingdong (Cayman) during the fourth quarter valued at about $157,000. Institutional investors own 24.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Dingdong (Cayman) from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th.

Dingdong (Cayman) Stock Performance

Shares of DDL stock opened at $2.05 on Monday. The stock's fifty day moving average is $2.29 and its 200-day moving average is $3.08. Dingdong has a 52 week low of $1.62 and a 52 week high of $4.79. The stock has a market capitalization of $483.09 million, a PE ratio of 22.72 and a beta of 0.47.

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

Dingdong (Cayman) announced that its board has authorized a stock repurchase plan on Thursday, March 6th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership 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.

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