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

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

Yiren Digital Stock Up 0.7 %

Shares of YRD stock opened at $4.50 on Thursday. Yiren Digital has a 52 week low of $2.16 and a 52 week high of $5.80. The firm has a 50 day moving average of $4.63 and a two-hundred day moving average of $4.83. The stock has a market capitalization of $391.19 million, a PE ratio of 1.35 and a beta of 0.69.

Yiren Digital (NYSE:YRD) last released its earnings results 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 paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a dividend yield of 3.5%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in shares of 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 in the last quarter. RFG Advisory LLC acquired a new stake in Yiren Digital in the first quarter valued at $715,000. Dimensional Fund Advisors LP lifted its holdings in Yiren Digital by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock worth $4,626,000 after buying an additional 90,726 shares during the last quarter. Secure Asset Management LLC acquired a new position in shares of Yiren Digital during the 2nd quarter worth about $310,000. Finally, Banco BTG Pactual S.A. purchased a new position in shares of Yiren Digital in the 1st quarter valued at about $223,000. Hedge funds and other 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.