Arrowstreet Capital Limited Partnership Buys 1,419,190 Shares of Dingdong (Cayman) Limited (NYSE:DDL)

Arrowstreet Capital Limited Partnership boosted its position in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 397.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,776,675 shares of the company's stock after purchasing an additional 1,419,190 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.75% of Dingdong (Cayman) worth $5,827,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in DDL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Dingdong (Cayman) during the fourth quarter worth approximately $105,000. Virtu Financial LLC acquired a new stake in Dingdong (Cayman) during the third quarter worth approximately $115,000. Cornerstone Investment Partners LLC bought a new position in Dingdong (Cayman) during the 4th quarter worth $160,000. Quadrature Capital Ltd raised its holdings in Dingdong (Cayman) by 87.9% in the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company's stock valued at $168,000 after acquiring an additional 22,302 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at $170,000. 24.66% of the stock is owned by institutional investors and hedge funds.

Dingdong (Cayman) Stock Up 1.2 %

Shares of DDL traded up $0.03 during trading hours on Friday, hitting $2.16. 1,688,462 shares of the company were exchanged, compared to its average volume of 814,337. The company has a market cap of $509.07 million, a price-to-earnings ratio of 23.94 and a beta of 0.55. The firm's fifty day moving average is $3.02 and its 200 day moving average is $3.47. Dingdong has a fifty-two week low of $1.08 and a fifty-two week high of $4.79.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $808.99 million for the quarter, compared to analyst estimates of $798.85 million. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. Analysts anticipate that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) declared that its board has approved a share repurchase program on Thursday, March 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board 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.