UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys New Stake in Dingdong (Cayman) Limited (NYSE:DDL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in 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 0.25% of Dingdong (Cayman) as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in Dingdong (Cayman) by 397.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company's stock valued at $5,827,000 after purchasing an additional 1,419,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Dingdong (Cayman) by 195.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company's stock worth $6,628,000 after buying an additional 1,336,471 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Dingdong (Cayman) by 164.8% in the fourth quarter. Marshall Wace LLP now owns 1,924,912 shares of the company's stock worth $6,314,000 after buying an additional 1,198,006 shares in the last quarter. Polymer Capital Management HK LTD purchased a new position in shares of Dingdong (Cayman) in the fourth quarter worth $2,590,000. Finally, Walleye Capital LLC purchased a new position in shares of Dingdong (Cayman) in the fourth quarter worth $2,227,000. 24.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Dingdong (Cayman) Stock Performance

DDL stock traded up $0.14 during mid-day trading on Wednesday, reaching $2.18. 600,798 shares of the stock traded hands, compared to its average volume of 861,663. Dingdong has a one year low of $1.62 and a one year high of $4.79. The stock has a market capitalization of $513.80 million, a PE ratio of 24.17 and a beta of 0.47. The business has a 50-day moving average price of $2.27 and a two-hundred day moving average price of $3.05.

Dingdong (Cayman) announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are 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.