Dingdong (Cayman) Limited (NYSE:DDL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 23.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,018,975 shares of the company's stock after selling 316,818 shares during the period. Renaissance Technologies LLC owned about 0.43% of Dingdong (Cayman) worth $3,342,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DDL. Arrowstreet Capital Limited Partnership boosted 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. Connor Clark & Lunn Investment Management Ltd. boosted its position in 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 purchasing an additional 1,336,471 shares during the period. Polymer Capital Management HK LTD bought a new position in Dingdong (Cayman) during the 4th quarter worth $2,590,000. Allspring Global Investments Holdings LLC acquired a new stake in Dingdong (Cayman) in the fourth quarter worth $1,197,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Dingdong (Cayman) by 11,194.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 302,680 shares of the company's stock valued at $993,000 after acquiring an additional 300,000 shares during the period. Institutional investors own 24.66% of the company's stock.

Dingdong (Cayman) Stock Performance

NYSE:DDL opened at $2.61 on Thursday. Dingdong has a 1 year low of $1.18 and a 1 year high of $4.79. The stock has a market cap of $616.56 million, a price-to-earnings ratio of 29.00 and a beta of 0.55. The business has a fifty day moving average of $2.85 and a 200-day moving average of $3.40.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company 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 predict that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) announced that its board has authorized a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership 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.

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