Dingdong (Cayman) Limited (NYSE:DDL) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its position in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 813,024 shares of the company's stock after purchasing an additional 171,832 shares during the period. Millennium Management LLC owned about 0.34% of Dingdong (Cayman) worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Dingdong (Cayman) in the 4th quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new stake in Dingdong (Cayman) in the 4th quarter worth $35,000. Diametric Capital LP purchased a new stake in Dingdong (Cayman) in the 4th quarter worth $63,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Dingdong (Cayman) in the 4th quarter worth $105,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in Dingdong (Cayman) in the 4th quarter worth $157,000. 24.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Dingdong (Cayman) Stock Up 1.5%

Shares of Dingdong (Cayman) stock traded up $0.03 during trading hours on Wednesday, reaching $2.09. 300,653 shares of the company's stock were exchanged, compared to its average volume of 859,619. Dingdong has a 1 year low of $1.62 and a 1 year high of $4.79. The company has a market capitalization of $493.72 million, a P/E ratio of 23.22 and a beta of 0.47. The business has a fifty day moving average of $2.32 and a two-hundred day moving average of $3.12.

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. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. The business had revenue of $808.99 million during the quarter, compared to analyst estimates of $798.85 million. As a group, research analysts predict that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) announced that its board has initiated a share buyback program on Thursday, March 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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.