Lazard Asset Management LLC Buys New Holdings in Dingdong (Cayman) Limited (NYSE:DDL)

Lazard Asset Management LLC bought a new stake in Dingdong (Cayman) Limited (NYSE:DDL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 569,341 shares of the company’s stock, valued at approximately $1,867,000. Lazard Asset Management LLC owned approximately 0.24% of Dingdong (Cayman) at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bank of Nova Scotia acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at $33,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at $35,000. Diametric Capital LP acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at $63,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at $105,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at $157,000. 24.66% of the stock is currently owned by institutional investors and hedge funds.

Dingdong (Cayman) Trading Down 2.7%

Shares of NYSE DDL opened at $2.32 on Friday. The business has a fifty day simple moving average of $2.54 and a 200 day simple moving average of $3.29. Dingdong has a one year low of $1.62 and a one year high of $4.79. The firm has a market capitalization of $546.87 million, a price-to-earnings ratio of 25.72 and a beta of 0.56.

Dingdong (Cayman) (NYSE:DDL) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $798.85 million. On average, research analysts anticipate that Dingdong will post 0.07 earnings per share for the current fiscal year.

Dingdong (Cayman) announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 6th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Dingdong (Cayman) 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.