Harvest Fund Management Co. Ltd Purchases 300,000 Shares of Dingdong (Cayman) Limited (NYSE:DDL)

Harvest Fund Management Co. Ltd grew its holdings in shares of Dingdong (Cayman) Limited (NYSE:DDL) by 11,194.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 302,680 shares of the company’s stock after buying an additional 300,000 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Dingdong (Cayman) were worth $993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Dingdong (Cayman) during the 3rd quarter valued at $115,000. Quadrature Capital Ltd boosted its stake in shares of Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after purchasing an additional 22,302 shares during the period. Centiva Capital LP bought a new position in shares of Dingdong (Cayman) in the third quarter worth about $170,000. Cornerstone Investment Partners LLC purchased a new position in Dingdong (Cayman) in the 4th quarter worth about $160,000. Finally, XTX Topco Ltd bought a new stake in Dingdong (Cayman) during the 3rd quarter valued at about $225,000. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Dingdong (Cayman) Price Performance

Shares of DDL stock opened at $3.07 on Thursday. The company has a market capitalization of $724.04 million, a P/E ratio of 34.06 and a beta of 0.44. The company’s 50-day simple moving average is $3.33 and its two-hundred day simple moving average is $3.49. Dingdong has a one year low of $1.08 and a one year high of $4.79.

Dingdong (Cayman) (NYSE:DDL) 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 return on equity of 40.86% and a net margin of 0.90%. On average, research analysts expect that Dingdong will post 0.07 EPS for the current fiscal year.

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