Boundless Plain Holdings Ltd Makes New Investment in Dingdong (Cayman) Limited Sponsored ADR $DDL

Boundless Plain Holdings Ltd acquired a new position in shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) during the 4th quarter, Holdings Channel reports. The firm acquired 7,989,001 shares of the company’s stock, valued at approximately $19,893,000. Dingdong (Cayman) accounts for about 6.3% of Boundless Plain Holdings Ltd’s investment portfolio, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of DDL. JPMorgan Chase & Co. increased its holdings in Dingdong (Cayman) by 66.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after purchasing an additional 386,795 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Dingdong (Cayman) by 283.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock worth $992,000 after purchasing an additional 362,974 shares during the last quarter. Norges Bank purchased a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $593,000. Allspring Global Investments Holdings LLC increased its holdings in Dingdong (Cayman) by 8.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock worth $7,520,000 after purchasing an additional 230,000 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Dingdong (Cayman) by 188.4% during the 3rd quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock worth $631,000 after purchasing an additional 199,033 shares during the last quarter. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DDL. Zacks Research upgraded Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings downgraded Dingdong (Cayman) from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Dingdong (Cayman) Trading Down 1.0%

Shares of DDL opened at $2.56 on Friday. The firm has a market cap of $603.56 million, a price-to-earnings ratio of 10.65 and a beta of 0.44. The stock has a 50 day moving average of $2.60 and a 200-day moving average of $2.52. Dingdong has a 52 week low of $1.65 and a 52 week high of $3.41.

Dingdong (Cayman) (NYSE:DDL) last issued its earnings results on Saturday, February 14th. The company reported $0.02 EPS for the quarter. The company had revenue of $892.26 million during the quarter. Dingdong (Cayman) had a return on equity of 38.40% and a net margin of 1.54%.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.