Dingdong (Cayman) Limited Sponsored ADR $DDL Shares Sold by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. decreased its holdings in Dingdong (Cayman) Limited by 17.8%, now owning approximately 2.83% of the company, valued at $13.5 million.
• Several hedge funds, including Two Sigma Advisers LP and Mackenzie Financial Corp, recently acquired new positions in Dingdong, indicating growing interest from institutional investors.
• Dingdong (Cayman) reported quarterly earnings of $0.06 per share and had a market cap of $485.45 million, with analysts forecasting a 0.07 EPS for the current fiscal year.

Platinum Investment Management Ltd. lowered its holdings in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Free Report) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,677,746 shares of the company's stock after selling 1,448,227 shares during the period. Dingdong (Cayman) comprises 0.9% of Platinum Investment Management Ltd.'s holdings, making the stock its 21st biggest holding. Platinum Investment Management Ltd. owned about 2.83% of Dingdong (Cayman) worth $13,489,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new position in Dingdong (Cayman) in the fourth quarter worth approximately $47,000. Mackenzie Financial Corp acquired a new position in Dingdong (Cayman) in the first quarter worth approximately $81,000. Two Sigma Investments LP acquired a new position in shares of Dingdong (Cayman) in the 4th quarter worth $110,000. Squarepoint Ops LLC acquired a new position in shares of Dingdong (Cayman) in the 4th quarter worth $245,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Dingdong (Cayman) by 78.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 122,661 shares of the company's stock worth $402,000 after acquiring an additional 53,885 shares during the last quarter. Institutional investors and hedge funds own 24.66% of the company's stock.

Dingdong (Cayman) Stock Performance

NYSE DDL opened at $2.06 on Thursday. Dingdong has a twelve month low of $1.95 and a twelve month high of $4.79. The stock has a market cap of $485.45 million, a price-to-earnings ratio of 9.79 and a beta of 0.47. The firm's 50 day moving average price is $2.16 and its two-hundred day moving average price is $2.26.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The company reported $0.06 earnings per share for the quarter. Dingdong (Cayman) had a return on equity of 41.69% and a net margin of 1.39%.The business had revenue of $834.20 million for the quarter. On average, research analysts forecast that Dingdong will post 0.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Dingdong (Cayman) from a "hold" rating to a "buy" rating in a report on Saturday, August 30th.

About Dingdong (Cayman)

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.