Dingdong (Cayman) Limited Sponsored ADR $DDL Position Cut by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. decreased its position in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,460,889 shares of the company’s stock after selling 216,857 shares during the quarter. Dingdong (Cayman) accounts for approximately 3.7% of Platinum Investment Management Ltd.’s portfolio, making the stock its 3rd largest position. Platinum Investment Management Ltd. owned about 2.73% of Dingdong (Cayman) worth $16,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDL. Boundless Plain Holdings Ltd acquired a new position in shares of Dingdong (Cayman) in the fourth quarter worth $19,893,000. Vanguard Group Inc. grew its stake in shares of Dingdong (Cayman) by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company’s stock worth $9,339,000 after acquiring an additional 48,638 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Dingdong (Cayman) by 8.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock worth $7,520,000 after acquiring an additional 230,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Dingdong (Cayman) by 66.5% in the second quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after acquiring an additional 386,795 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Dingdong (Cayman) by 10.0% in the third quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock worth $1,118,000 after acquiring an additional 48,947 shares in the last quarter. Hedge funds and other institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Down 1.4%

NYSE:DDL opened at $2.42 on Friday. The company has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.60. The company has a market cap of $570.50 million, a price-to-earnings ratio of 10.06 and a beta of 0.43. Dingdong has a 52 week low of $1.65 and a 52 week high of $3.41.

Dingdong (Cayman) (NYSE:DDL) last issued its earnings results on Saturday, February 14th. The company reported $0.02 EPS for the quarter. The firm had revenue of $892.26 million during the quarter. Dingdong (Cayman) had a net margin of 1.54% and a return on equity of 36.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DDL shares. Weiss Ratings upgraded shares of Dingdong (Cayman) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Dingdong (Cayman) Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.