Allspring Global Investments Holdings LLC Sells 70,000 Shares of Dingdong (Cayman) Limited Sponsored ADR $DDL

Allspring Global Investments Holdings LLC decreased its holdings in shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) by 2.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,970,244 shares of the company’s stock after selling 70,000 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dingdong (Cayman) were worth $6,000,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Dingdong (Cayman) by 30.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company’s stock valued at $7,133,000 after buying an additional 621,018 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Dingdong (Cayman) by 36.0% in the second quarter. Public Employees Retirement System of Ohio now owns 206,206 shares of the company’s stock worth $417,000 after purchasing an additional 54,563 shares in the last quarter. Mackenzie Financial Corp bought a new position in Dingdong (Cayman) in the first quarter worth approximately $81,000. QRG Capital Management Inc. bought a new position in Dingdong (Cayman) in the second quarter worth approximately $32,000. Finally, GSA Capital Partners LLP grew its stake in Dingdong (Cayman) by 77.6% in the first quarter. GSA Capital Partners LLP now owns 258,305 shares of the company’s stock worth $697,000 after purchasing an additional 112,901 shares in the last quarter. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Up 2.5%

Dingdong (Cayman) stock opened at $1.87 on Monday. The business has a fifty day moving average of $2.10 and a two-hundred day moving average of $2.17. The firm has a market cap of $440.57 million, a P/E ratio of 8.88 and a beta of 0.47. Dingdong has a twelve month low of $1.80 and a twelve month high of $4.79.

Dingdong (Cayman) (NYSE:DDL) last posted its earnings results on Thursday, August 21st. The company reported $0.06 earnings per share for the quarter. The company had revenue of $834.20 million during the quarter. Dingdong (Cayman) had a return on equity of 41.69% and a net margin of 1.39%. Equities analysts expect that Dingdong will post 0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Dingdong (Cayman) in a research note on Wednesday, October 8th. Wall Street Zen raised Dingdong (Cayman) from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

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.