Rovida Investment Management Ltd Takes Position in Dada Nexus Limited (NASDAQ:DADA)

Rovida Investment Management Ltd bought a new position in Dada Nexus Limited (NASDAQ:DADA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 4,613,268 shares of the company’s stock, valued at approximately $5,536,000. Dada Nexus makes up about 1.7% of Rovida Investment Management Ltd’s holdings, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of DADA. Prescott Group Capital Management L.L.C. raised its stake in shares of Dada Nexus by 17.2% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 1,347,334 shares of the company’s stock worth $1,630,000 after acquiring an additional 198,000 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in Dada Nexus by 7,106.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 912,664 shares of the company’s stock worth $1,104,000 after purchasing an additional 900,000 shares during the period. Jane Street Group LLC lifted its stake in Dada Nexus by 45.5% in the third quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after purchasing an additional 73,720 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock valued at $427,000 after buying an additional 154,460 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in shares of Dada Nexus during the fourth quarter valued at about $159,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Trading Up 1.1 %

NASDAQ DADA opened at $1.88 on Tuesday. The stock has a 50-day moving average of $1.76 and a 200-day moving average of $1.60. Dada Nexus Limited has a 1-year low of $1.04 and a 1-year high of $2.56. The firm has a market cap of $487.23 million, a PE ratio of -1.69 and a beta of 1.40.

Dada Nexus (NASDAQ:DADA) last issued its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Dada Nexus had a negative return on equity of 12.70% and a negative net margin of 20.95%. The firm had revenue of $338.25 million during the quarter.

Dada Nexus Company Profile

Dada Nexus Limited operates a platform of local on-demand retail and delivery in the People’s Republic of China. It operates Dada Now, a local on-demand delivery platform that provides intra-city delivery and last-mile delivery services on an on-demand basis to chain merchants, small- and medium-sized enterprise merchants, and individual senders; and JDDJ, a local on-demand retail platforms for consumers, retailers, and brand owners.