Yiren Digital (NYSE:YRD) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Yiren Digital (NYSE:YRD) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday morning.

Yiren Digital Stock Up 8.1 %

NYSE:YRD opened at $5.19 on Friday. The stock’s fifty day simple moving average is $4.62 and its 200-day simple moving average is $4.80. The firm has a market capitalization of $451.19 million, a P/E ratio of 1.56 and a beta of 0.69. Yiren Digital has a 12-month low of $2.16 and a 12-month high of $5.80.

Yiren Digital (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported $0.65 EPS 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 during the quarter.

Yiren Digital Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of YRD. Acadian Asset Management LLC boosted its position in Yiren Digital by 63.9% during the 1st quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock worth $1,817,000 after acquiring an additional 158,772 shares during the last quarter. RFG Advisory LLC bought a new position in Yiren Digital in the first quarter valued at $715,000. Secure Asset Management LLC bought a new position in Yiren Digital in the second quarter valued at $310,000. EntryPoint Capital LLC acquired a new stake in Yiren Digital in the 1st quarter valued at $72,000. Finally, Advisors Preferred LLC bought a new stake in Yiren Digital during the 1st quarter worth about $76,000. 1.99% of the stock is currently owned by institutional investors.

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.