Yiren Digital (NYSE:YRD) Sees Unusually-High Trading Volume – What’s Next?

Shares of Yiren Digital Ltd. (NYSE:YRD) saw unusually-strong trading volume on Friday . Approximately 166,150 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 138,426 shares.The stock last traded at $7.52 and had previously closed at $7.54.

Analysts Set New Price Targets

Separately, StockNews.com raised Yiren Digital from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 29th.

Yiren Digital Trading Down 2.4 %

The firm has a market cap of $639.80 million, a PE ratio of 2.27 and a beta of 0.72. The company’s 50-day moving average is $4.81 and its 200 day moving average is $4.85.

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

Yiren Digital Cuts Dividend

The company also recently announced 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 (DPR) is currently 10.21%.

Institutional Trading of Yiren Digital

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in Yiren Digital by 63.9% in the 1st quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 158,772 shares during the last quarter. RFG Advisory LLC bought a new position in shares of Yiren Digital during the 1st quarter valued at about $715,000. Dimensional Fund Advisors LP boosted its holdings in shares of Yiren Digital by 9.8% in 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. Secure Asset Management LLC acquired a new position in Yiren Digital in the 2nd quarter worth $310,000. Finally, Banco BTG Pactual S.A. acquired a new position in shares of Yiren Digital during the first quarter worth about $223,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.