Bank of Nova Scotia Takes Position in Dingdong (Cayman) Limited (NYSE:DDL)

Bank of Nova Scotia purchased a new position in Dingdong (Cayman) Limited (NYSE:DDL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,039 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its position in shares of Dingdong (Cayman) by 397.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company’s stock valued at $5,827,000 after buying an additional 1,419,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Dingdong (Cayman) by 195.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company’s stock valued at $6,628,000 after acquiring an additional 1,336,471 shares during the last quarter. Polymer Capital Management HK LTD acquired a new stake in Dingdong (Cayman) in the 4th quarter valued at about $2,590,000. Allspring Global Investments Holdings LLC purchased a new position in Dingdong (Cayman) during the 4th quarter valued at about $1,197,000. Finally, Harvest Fund Management Co. Ltd raised its position in Dingdong (Cayman) by 11,194.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 302,680 shares of the company’s stock worth $993,000 after acquiring an additional 300,000 shares during the last quarter. 24.66% of the stock is owned by institutional investors and hedge funds.

Dingdong (Cayman) Price Performance

Shares of DDL opened at $2.26 on Wednesday. Dingdong has a 1-year low of $1.08 and a 1-year high of $4.79. The firm has a 50 day simple moving average of $2.98 and a 200-day simple moving average of $3.46. The stock has a market cap of $534.58 million, a price-to-earnings ratio of 25.14 and a beta of 0.55.

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

Dingdong (Cayman) announced that its board has approved a stock buyback program on Thursday, March 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

About Dingdong (Cayman)

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.