Harvest Fund Management Co. Ltd Buys 300,000 Shares of Dingdong (Cayman) Limited (NYSE:DDL)

Harvest Fund Management Co. Ltd grew its position in shares of Dingdong (Cayman) Limited (NYSE:DDL) by 11,194.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,680 shares of the company’s stock after purchasing an additional 300,000 shares during the period. Harvest Fund Management Co. Ltd owned approximately 0.13% of Dingdong (Cayman) worth $993,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Quadrature Capital Ltd grew its holdings in Dingdong (Cayman) by 87.9% during the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after buying an additional 22,302 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Dingdong (Cayman) by 36.8% in the fourth quarter. New York State Common Retirement Fund now owns 88,389 shares of the company’s stock valued at $290,000 after purchasing an additional 23,774 shares in the last quarter. Virtu Financial LLC bought a new stake in Dingdong (Cayman) in the third quarter worth $115,000. GSA Capital Partners LLP raised its stake in 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 purchasing an additional 32,478 shares in the last quarter. Finally, Centiva Capital LP bought a new position in Dingdong (Cayman) during the third quarter valued at $170,000. 24.66% of the stock is owned by institutional investors.

Dingdong (Cayman) Stock Down 0.2 %

Dingdong (Cayman) stock opened at $3.07 on Thursday. The company’s 50-day moving average price is $3.33 and its 200-day moving average price is $3.49. The company has a market cap of $724.04 million, a PE ratio of 34.06 and a beta of 0.44. Dingdong has a twelve month low of $1.08 and a twelve month high of $4.79.

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

Dingdong (Cayman) announced that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership 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.