Lazard Asset Management LLC Makes New Investment in Dingdong (Cayman) Limited (NYSE:DDL)

Lazard Asset Management LLC purchased a new position in shares of Dingdong (Cayman) Limited (NYSE:DDL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 569,341 shares of the company's stock, valued at approximately $1,867,000. Lazard Asset Management LLC owned about 0.24% of Dingdong (Cayman) as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DDL. Vanguard Group Inc. raised its position in shares of Dingdong (Cayman) by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,459,769 shares of the company's stock worth $17,908,000 after purchasing an additional 42,772 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Dingdong (Cayman) by 195.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company's stock valued at $6,628,000 after buying an additional 1,336,471 shares during the last quarter. Marshall Wace LLP grew its holdings in Dingdong (Cayman) by 164.8% during the 4th quarter. Marshall Wace LLP now owns 1,924,912 shares of the company's stock valued at $6,314,000 after buying an additional 1,198,006 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Dingdong (Cayman) by 397.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company's stock valued at $5,827,000 after buying an additional 1,419,190 shares during the last quarter. Finally, Polymer Capital Management HK LTD acquired a new stake in Dingdong (Cayman) during the 4th quarter valued at $2,590,000. Institutional investors and hedge funds own 24.66% of the company's stock.

Dingdong (Cayman) Price Performance

NYSE:DDL traded up $0.03 during trading hours on Friday, reaching $2.07. 773,344 shares of the company traded hands, compared to its average volume of 851,763. The firm's 50-day moving average is $2.45 and its 200-day moving average is $3.24. The stock has a market cap of $487.81 million, a P/E ratio of 22.94 and a beta of 0.56. Dingdong has a 1-year low of $1.62 and a 1-year high of $4.79.

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

Dingdong (Cayman) declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.