Goldman Sachs Group Inc. Cuts Position in Dingdong (Cayman) Limited Sponsored ADR $DDL

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in Dingdong (Cayman) Limited by 7.0%, now owning 2,057,817 shares valued at approximately $5.56 million as of the latest SEC filing.
• Other institutional investors have increased their positions significantly, with Allspring Global Investments Holdings LLC raising its stake by 732.9% to own over 3 million shares.
• Dingdong (Cayman)'s stock price has risen by 1.6%, with its shares currently trading at $2.24, and analysts project an earnings per share of $0.07 for the current fiscal year.

Goldman Sachs Group Inc. lessened its stake in shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,057,817 shares of the company's stock after selling 153,899 shares during the quarter. Goldman Sachs Group Inc. owned about 0.87% of Dingdong (Cayman) worth $5,556,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DDL. Allspring Global Investments Holdings LLC grew its stake in Dingdong (Cayman) by 732.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,040,244 shares of the company's stock worth $8,209,000 after purchasing an additional 2,675,244 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Dingdong (Cayman) by 30.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company's stock worth $7,133,000 after purchasing an additional 621,018 shares in the last quarter. Millennium Management LLC grew its position in Dingdong (Cayman) by 26.8% during the 4th quarter. Millennium Management LLC now owns 813,024 shares of the company's stock worth $2,667,000 after purchasing an additional 171,832 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Dingdong (Cayman) during the 4th quarter valued at $1,958,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Dingdong (Cayman) by 77.6% during the 1st quarter. GSA Capital Partners LLP now owns 258,305 shares of the company's stock valued at $697,000 after acquiring an additional 112,901 shares in the last quarter. 24.66% of the stock is owned by hedge funds and other institutional investors.

Dingdong (Cayman) Stock Performance

Shares of DDL traded down $0.06 during trading hours on Friday, reaching $2.10. 953,094 shares of the company traded hands, compared to its average volume of 627,952. The stock has a market cap of $496.08 million, a P/E ratio of 10.00 and a beta of 0.47. Dingdong has a 1-year low of $1.95 and a 1-year high of $4.79. The stock's fifty day moving average is $2.19 and its 200 day moving average is $2.32.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of 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.