Waterdrop (NYSE:WDH) Shares Gap Up After Dividend Announcement

Shares of Waterdrop Inc. (NYSE:WDH) gapped up prior to trading on Tuesday after the company announced a dividend. The stock had previously closed at $1.26, but opened at $1.32. Waterdrop shares last traded at $1.30, with a volume of 73,680 shares.

The newly announced dividend which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.032 dividend. The ex-dividend date is Thursday, April 18th.

Analyst Ratings Changes

Separately, TheStreet raised Waterdrop from a “d+” rating to a “c-” rating in a research report on Thursday, March 14th.

Waterdrop Stock Up 0.8 %

The stock has a market cap of $508.29 million, a PE ratio of 26.01 and a beta of -0.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.11 and a current ratio of 4.11. The company’s 50-day moving average price is $1.13 and its 200 day moving average price is $1.12.

Institutional Investors Weigh In On Waterdrop

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in shares of Waterdrop by 175.8% during the 2nd quarter. Renaissance Technologies LLC now owns 74,200 shares of the company’s stock valued at $95,000 after acquiring an additional 47,300 shares during the period. Bank of America Corp DE grew its stake in shares of Waterdrop by 239.9% during the 4th quarter. Bank of America Corp DE now owns 8,497 shares of the company’s stock valued at $28,000 after acquiring an additional 5,997 shares during the period. Morgan Stanley grew its stake in shares of Waterdrop by 0.5% during the 4th quarter. Morgan Stanley now owns 3,164,998 shares of the company’s stock valued at $10,539,000 after acquiring an additional 14,182 shares during the period. Squarepoint Ops LLC bought a new position in shares of Waterdrop during the 4th quarter valued at approximately $58,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Waterdrop during the 1st quarter valued at approximately $126,000. Hedge funds and other institutional investors own 1.96% of the company’s stock.

About Waterdrop

Waterdrop Inc, through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People's Republic of China. The company offers short-term health and long-term health and life insurance products and services.