Dingdong (Cayman) Limited Sponsored ADR $DDL Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lowered its position in shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,460,889 shares of the company’s stock after selling 216,857 shares during the quarter. Dingdong (Cayman) comprises 3.7% of Platinum Investment Management Ltd.’s holdings, making the stock its 3rd largest position. Platinum Investment Management Ltd.’s holdings in Dingdong (Cayman) were worth $16,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boundless Plain Holdings Ltd acquired a new position in Dingdong (Cayman) in the fourth quarter valued at $19,893,000. Allspring Global Investments Holdings LLC boosted its stake in Dingdong (Cayman) by 8.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock valued at $7,520,000 after acquiring an additional 230,000 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Dingdong (Cayman) by 188.4% in the third quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock valued at $631,000 after acquiring an additional 199,033 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Dingdong (Cayman) by 283.3% in the second quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock valued at $992,000 after acquiring an additional 362,974 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Dingdong (Cayman) by 12.7% in the second quarter. Bank of America Corp DE now owns 344,875 shares of the company’s stock valued at $697,000 after acquiring an additional 38,756 shares in the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Price Performance

NYSE DDL opened at $2.42 on Friday. The company has a fifty day moving average of $2.58 and a two-hundred day moving average of $2.60. Dingdong has a 1 year low of $1.65 and a 1 year high of $3.41. The company has a market capitalization of $570.50 million, a PE ratio of 10.06 and a beta of 0.43.

Dingdong (Cayman) (NYSE:DDL) last announced its earnings results on Saturday, February 14th. The company reported $0.02 EPS for the quarter. Dingdong (Cayman) had a net margin of 1.54% and a return on equity of 36.51%. The business had revenue of $892.26 million during the quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Dingdong (Cayman) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.