597,053 Shares in Dingdong (Cayman) Limited (NYSE:DDL) Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Dingdong (Cayman) Limited (NYSE:DDL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 597,053 shares of the company's stock, valued at approximately $1,958,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Dingdong (Cayman) as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DDL. Vanguard Group Inc. raised its holdings in Dingdong (Cayman) by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,459,769 shares of the company's stock valued at $17,908,000 after acquiring an additional 42,772 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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 acquiring an additional 1,336,471 shares in the last quarter. Marshall Wace LLP boosted its position in shares of 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 acquiring an additional 1,198,006 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Dingdong (Cayman) by 397.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company's stock valued at $5,827,000 after acquiring an additional 1,419,190 shares during the period. Finally, Millennium Management LLC raised its position in Dingdong (Cayman) by 26.8% in the fourth 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. 24.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Dingdong (Cayman) Stock Performance

Shares of NYSE DDL traded up $0.05 during midday trading on Monday, reaching $2.09. 278,507 shares of the company traded hands, compared to its average volume of 857,734. Dingdong has a 12 month low of $1.62 and a 12 month high of $4.79. The stock's 50-day simple moving average is $2.29 and its 200-day simple moving average is $3.08. The firm has a market cap of $492.54 million, a PE ratio of 23.17 and a beta of 0.47.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $808.99 million for the quarter, compared to analysts' expectations of $798.85 million. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. On average, equities research analysts expect that Dingdong will post 0.07 EPS for the current year.

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

Dingdong (Cayman) 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.