Acadian Asset Management LLC Takes $86,000 Position in Dingdong (Cayman) Limited (NYSE:DDL)

Acadian Asset Management LLC acquired a new position in Dingdong (Cayman) Limited (NYSE:DDL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 43,347 shares of the company’s stock, valued at approximately $86,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Platinum Investment Management Ltd. lifted its stake in shares of Dingdong (Cayman) by 1.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock valued at $13,963,000 after purchasing an additional 166,736 shares during the last quarter. Vanguard Group Inc. lifted its position in Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after buying an additional 17,900 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Dingdong (Cayman) during the first quarter worth about $54,000. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Dingdong (Cayman) Stock Performance

Dingdong (Cayman) stock opened at $2.63 on Friday. The company’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $1.81. Dingdong has a 1 year low of $1.07 and a 1 year high of $2.99. The company has a market capitalization of $621.28 million, a price-to-earnings ratio of -87.67 and a beta of 0.29.

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.