StockNews.com Lowers Yiren Digital (NYSE:YRD) to Buy

StockNews.com downgraded shares of Yiren Digital (NYSE:YRD) from a strong-buy rating to a buy rating in a report published on Saturday.

Yiren Digital Stock Down 2.8 %

Shares of NYSE:YRD opened at $4.53 on Friday. The firm has a fifty day simple moving average of $4.62 and a two-hundred day simple moving average of $4.81. Yiren Digital has a 52 week low of $2.16 and a 52 week high of $5.80. The stock has a market capitalization of $393.82 million, a P/E ratio of 1.36 and a beta of 0.69.

Yiren Digital (NYSE:YRD) last issued its quarterly earnings data on Tuesday, August 20th. The technology company reported $0.65 earnings per share for the quarter. Yiren Digital had a return on equity of 24.38% and a net margin of 37.05%. The company had revenue of $205.93 million for the quarter.

Yiren Digital Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.20 dividend. The ex-dividend date is Monday, September 30th. This represents a yield of 3.5%. Yiren Digital’s dividend payout ratio is presently 10.21%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Yiren Digital during the 2nd quarter worth about $70,000. Dimensional Fund Advisors LP boosted its position in shares of Yiren Digital by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock valued at $4,626,000 after buying an additional 90,726 shares during the period. Acadian Asset Management LLC grew its stake in shares of Yiren Digital by 6.3% during the second quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock valued at $1,943,000 after buying an additional 25,811 shares during the last quarter. Secure Asset Management LLC purchased a new stake in shares of Yiren Digital in the second quarter worth approximately $310,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Yiren Digital during the 1st quarter worth approximately $72,000. Institutional investors own 1.99% of the company’s stock.

About Yiren Digital

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.