Waterdrop (NYSE:WDH) Shares Gap Up Following Dividend Announcement

Waterdrop Inc. (NYSE:WDH)’s stock price gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $1.26, but opened at $1.32. Waterdrop shares last traded at $1.30, with a volume of 73,680 shares traded.

The newly announced dividend which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.032 dividend. The ex-dividend date of this dividend is Thursday, April 18th.

Analysts Set New Price Targets

Separately, TheStreet upgraded Waterdrop from a “d+” rating to a “c-” rating in a research note on Thursday, March 14th.

Waterdrop Stock Performance

The firm has a fifty day simple moving average of $1.13 and a 200-day simple moving average of $1.12. The company has a market cap of $508.29 million, a PE ratio of 26.01 and a beta of -0.34. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Waterdrop

Several hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund acquired a new stake in Waterdrop in the first quarter valued at about $375,000. State Street Corp grew its stake in shares of Waterdrop by 177.7% during the 2nd quarter. State Street Corp now owns 136,904 shares of the company’s stock valued at $285,000 after buying an additional 87,596 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Waterdrop during the 1st quarter valued at $234,000. Two Sigma Investments LP purchased a new stake in shares of Waterdrop during the 1st quarter valued at $149,000. Finally, Sei Investments Co. acquired a new position in shares of Waterdrop during the 1st quarter valued at $141,000. Institutional investors and hedge funds own 1.96% of the company’s stock.

About Waterdrop

Waterdrop Inc, through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People's Republic of China. The company offers short-term health and long-term health and life insurance products and services.