Dingdong (Cayman) (NYSE:DDL) Stock Price Down 5.4% – Here’s What Happened

Shares of Dingdong (Cayman) Limited (NYSE:DDL) traded down 5.4% during mid-day trading on Thursday . The company traded as low as $2.89 and last traded at $2.90. 423,693 shares were traded during trading, a decline of 44% from the average session volume of 762,680 shares. The stock had previously closed at $3.06.

Dingdong (Cayman) Stock Up 2.3 %

The business has a 50-day moving average price of $3.31 and a 200-day moving average price of $3.49. The firm has a market capitalization of $683.88 million, a price-to-earnings ratio of 32.17 and a beta of 0.44.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $808.99 million for the quarter, compared to the consensus estimate of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. On average, equities research analysts forecast that Dingdong will post 0.07 earnings per share for the current year.

Dingdong (Cayman) announced that its Board of Directors has authorized 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of large investors have recently made changes to their positions in DDL. GSA Capital Partners LLP grew its holdings in shares of Dingdong (Cayman) by 81.0% during the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock valued at $258,000 after buying an additional 32,478 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Dingdong (Cayman) by 3,090.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock valued at $2,429,000 after purchasing an additional 662,894 shares during the last quarter. Centiva Capital LP purchased a new stake in Dingdong (Cayman) in the third quarter valued at $170,000. Quadrature Capital Ltd boosted its holdings in Dingdong (Cayman) by 87.9% in 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 last quarter. Finally, State Street Corp boosted its holdings in Dingdong (Cayman) by 32.7% in the third quarter. State Street Corp now owns 253,119 shares of the company’s stock valued at $899,000 after purchasing an additional 62,338 shares during the last quarter. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.