Platinum Investment Management Ltd. Trims Stock Holdings in Dingdong (Cayman) Limited (NYSE:DDL)

Platinum Investment Management Ltd. reduced its holdings in shares of Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,125,973 shares of the company's stock after selling 432,543 shares during the quarter. Dingdong (Cayman) makes up 1.6% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 17th largest position. Platinum Investment Management Ltd. owned approximately 3.44% of Dingdong (Cayman) worth $26,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) in the 3rd quarter worth approximately $115,000. Quadrature Capital Ltd increased its stake in Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company's stock worth $168,000 after acquiring an additional 22,302 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Dingdong (Cayman) in the 3rd quarter worth about $170,000. Cornerstone Investment Partners LLC acquired a new position in shares of Dingdong (Cayman) in the 4th quarter valued at about $160,000. Finally, XTX Topco Ltd acquired a new stake in Dingdong (Cayman) during the 3rd quarter worth approximately $225,000. Institutional investors and hedge funds own 24.66% of the company's stock.

Dingdong (Cayman) Stock Up 2.3 %

Shares of DDL stock traded up $0.07 during mid-day trading on Friday, reaching $2.90. The company's stock had a trading volume of 940,237 shares, compared to its average volume of 771,272. Dingdong has a 12-month low of $1.08 and a 12-month high of $4.79. The firm has a market capitalization of $683.88 million, a PE ratio of 32.17 and a beta of 0.44. The company's 50 day simple moving average is $3.31 and its 200-day simple moving average is $3.50.

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Dingdong (Cayman) (NYSE:DDL - Get Free Report) last issued its earnings results 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 company had revenue of $808.99 million during the quarter, compared to the consensus estimate of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. As a group, research analysts anticipate that Dingdong will post 0.07 EPS for the current fiscal year.

Dingdong (Cayman) declared that its board has approved a share repurchase program on Thursday, March 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Dingdong (Cayman) Company 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.