Bank of Nova Scotia Purchases Shares of 10,039 Dingdong (Cayman) Limited (NYSE:DDL)

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. Diametric Capital LP purchased a new position in Dingdong (Cayman) in the fourth quarter valued at approximately $63,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Dingdong (Cayman) during the 4th quarter valued at $105,000. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) during the 3rd quarter worth $115,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Dingdong (Cayman) in the 4th quarter valued at $157,000. Finally, Cornerstone Investment Partners LLC purchased a new position in Dingdong (Cayman) in the fourth quarter valued at about $160,000. 24.66% of the stock is owned by institutional investors and hedge funds.

Dingdong (Cayman) Price Performance

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

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

Dingdong (Cayman) declared that its board has authorized a share repurchase plan on Thursday, March 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication 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.