Polymer Capital Management HK LTD Purchases Shares of 789,648 Dingdong (Cayman) Limited (NYSE:DDL)

Polymer Capital Management HK LTD bought a new position in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 789,648 shares of the company's stock, valued at approximately $2,590,000. Polymer Capital Management HK LTD owned approximately 0.33% of Dingdong (Cayman) at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in Dingdong (Cayman) by 397.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company's stock worth $5,827,000 after acquiring an additional 1,419,190 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Dingdong (Cayman) by 195.3% during 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 acquiring an additional 1,336,471 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Dingdong (Cayman) during the 4th quarter valued at $1,197,000. Harvest Fund Management Co. Ltd grew its position in shares of Dingdong (Cayman) by 11,194.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 302,680 shares of the company's stock worth $993,000 after buying an additional 300,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Dingdong (Cayman) by 268.6% during the fourth quarter. JPMorgan Chase & Co. now owns 364,696 shares of the company's stock valued at $1,196,000 after buying an additional 265,762 shares during the period. 24.66% of the stock is owned by institutional investors.

Dingdong (Cayman) Stock Down 0.2 %

Shares of DDL stock traded down $0.01 on Friday, hitting $2.13. The stock had a trading volume of 1,069,159 shares, compared to its average volume of 809,345. Dingdong has a one year low of $1.08 and a one year high of $4.79. The business has a 50 day moving average price of $3.04 and a 200 day moving average price of $3.47. The company has a market cap of $501.98 million, a PE ratio of 23.50 and a beta of 0.55.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last posted its quarterly 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. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. The business had revenue of $808.99 million during the quarter, compared to analyst estimates of $798.85 million. Equities research analysts expect that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) declared that its Board of Directors has initiated a share buyback plan on Thursday, March 6th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is 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.