Polymer Capital Management HK LTD Makes New Investment in Dingdong (Cayman) Limited (NYSE:DDL)

Polymer Capital Management HK LTD bought a new position in shares of Dingdong (Cayman) Limited (NYSE:DDL) during the 4th quarter, according to its most recent 13F filing with the 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) as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jane Street Group LLC boosted its holdings in Dingdong (Cayman) by 110.8% during the third quarter. Jane Street Group LLC now owns 248,189 shares of the company’s stock worth $881,000 after buying an additional 130,470 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Dingdong (Cayman) during the 4th quarter valued at approximately $1,197,000. Harvest Fund Management Co. Ltd boosted its stake 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 acquiring an additional 300,000 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Dingdong (Cayman) in the 4th quarter worth approximately $674,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Dingdong (Cayman) by 195.3% in 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 in the last quarter. 24.66% of the stock is owned by institutional investors and hedge funds.

Dingdong (Cayman) Stock Performance

Shares of DDL stock opened at $2.33 on Friday. The stock has a market cap of $549.23 million, a PE ratio of 25.83 and a beta of 0.55. Dingdong has a 1 year low of $1.08 and a 1 year high of $4.79. The stock has a fifty day moving average price of $3.19 and a 200 day moving average price of $3.50.

Dingdong (Cayman) (NYSE:DDL) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.06 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $798.85 million. As a group, equities research analysts predict that Dingdong will post 0.07 earnings per share for the current year.

Dingdong (Cayman) announced that its Board of Directors has approved a share repurchase plan on Thursday, March 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are 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.