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

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

Yiren Digital Price Performance

NYSE:YRD opened at $7.35 on Monday. Yiren Digital has a 1-year low of $2.16 and a 1-year high of $9.20. The business has a 50 day moving average of $4.92 and a 200 day moving average of $4.87. The company has a market capitalization of $638.97 million, a price-to-earnings ratio of 2.21 and a beta of 0.72.

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

Yiren Digital Cuts Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a dividend yield of 3.5%. Yiren Digital’s dividend payout ratio is presently 10.21%.

Hedge Funds Weigh In On Yiren Digital

A number of hedge funds have recently bought and sold shares of the company. RFG Advisory LLC purchased a new position in shares of Yiren Digital in the first quarter worth approximately $715,000. Advisors Preferred LLC purchased a new stake in shares of Yiren Digital in the 1st quarter worth $76,000. Banco BTG Pactual S.A. purchased a new stake in shares of Yiren Digital in the 1st quarter worth $223,000. Acadian Asset Management LLC raised its stake in shares of Yiren Digital by 63.9% in the first quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock worth $1,817,000 after buying an additional 158,772 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Yiren Digital during the 1st quarter worth approximately $72,000. Institutional investors own 1.99% of the company’s stock.

Yiren Digital Company Profile

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.