Yiren Digital (NYSE:YRD) Shares Gap Up – Here’s Why

Yiren Digital Ltd. (NYSE:YRD)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $7.30, but opened at $8.06. Yiren Digital shares last traded at $8.56, with a volume of 541,079 shares.

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 6.6 %

The company has a 50 day moving average of $4.81 and a 200 day moving average of $4.85. The firm has a market cap of $657.19 million, a price-to-earnings ratio of 2.27 and a beta of 0.72.

Yiren Digital (NYSE:YRD) last released 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 return on equity of 24.38% and a net margin of 37.05%. The firm had revenue of $205.93 million for the quarter.

Yiren Digital Cuts Dividend

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

Institutional Trading of Yiren Digital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Yiren Digital by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock valued at $4,626,000 after purchasing an additional 90,726 shares during the period. Acadian Asset Management LLC grew its stake in Yiren Digital by 6.3% in the second quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 25,811 shares in the last quarter. RFG Advisory LLC acquired a new position in shares of Yiren Digital during the 1st quarter worth approximately $715,000. Secure Asset Management LLC bought a new stake in shares of Yiren Digital during the 2nd quarter worth approximately $310,000. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of Yiren Digital in the 1st quarter valued at approximately $223,000. Institutional investors and hedge funds 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.