Connor Clark & Lunn Investment Management Ltd. Has $7.13 Million Stake in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Dingdong (Cayman) Limited by 30.7%, owning 2,641,834 shares valued at approximately $7.13 million at the end of the reporting period.
• Several institutional investors have added new positions in Dingdong (Cayman), with notable increases from Point72 Asia Singapore, which raised its stake by 319.2%.
• Wall Street Zen downgraded Dingdong's stock rating from "buy" to "hold," reflecting shifting analyst sentiment despite continued institutional interest.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Free Report) by 30.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,641,834 shares of the company's stock after purchasing an additional 621,018 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.12% of Dingdong (Cayman) worth $7,133,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new position in Dingdong (Cayman) during the fourth quarter valued at approximately $33,000. Susquehanna Fundamental Investments LLC acquired a new position in Dingdong (Cayman) during the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Dingdong (Cayman) by 319.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company's stock valued at $42,000 after buying an additional 9,797 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $47,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Dingdong (Cayman) in the first quarter valued at approximately $81,000. Institutional investors and hedge funds own 24.66% of the company's stock.

Dingdong (Cayman) Trading Down 2.9%

Dingdong (Cayman) stock traded down $0.07 during trading hours on Friday, reaching $2.22. 350,634 shares of the stock were exchanged, compared to its average volume of 656,703. The company has a market cap of $523.25 million, a P/E ratio of 14.77 and a beta of 0.47. Dingdong has a twelve month low of $1.87 and a twelve month high of $4.79. The stock has a 50 day moving average of $2.14 and a two-hundred day moving average of $2.54.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Dingdong (Cayman) from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Dingdong (Cayman) Company 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.