Squarepoint Ops LLC Buys Shares of 74,720 Dingdong (Cayman) Limited (NYSE:DDL)

Squarepoint Ops LLC bought a new stake in shares of Dingdong (Cayman) Limited (NYSE:DDL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 74,720 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new position in Dingdong (Cayman) during the 4th quarter valued at about $33,000. Susquehanna Fundamental Investments LLC purchased a new position in Dingdong (Cayman) during the 4th quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. increased its position in Dingdong (Cayman) by 319.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company’s stock valued at $42,000 after purchasing an additional 9,797 shares during the period. Two Sigma Advisers LP purchased a new position in Dingdong (Cayman) during the 4th quarter valued at about $47,000. Finally, Diametric Capital LP purchased a new position in Dingdong (Cayman) during the 4th quarter valued at about $63,000. Hedge funds and other institutional investors own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Dingdong (Cayman) from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 24th.

Dingdong (Cayman) Stock Performance

NYSE DDL opened at $2.05 on Friday. The company has a market capitalization of $483.09 million, a price-to-earnings ratio of 22.72 and a beta of 0.47. The company’s 50-day simple moving average is $2.29 and its two-hundred day simple moving average is $3.08. Dingdong has a one year low of $1.62 and a one year high of $4.79.

Dingdong (Cayman) (NYSE:DDL) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $798.85 million. Equities analysts expect that Dingdong will post 0.07 earnings per share for the current fiscal year.

Dingdong (Cayman) announced that its board has authorized a share repurchase plan on Thursday, March 6th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign 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.