Yiren Digital (NYSE:YRD) Rating Lowered 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 research report report published on Tuesday.

Yiren Digital Stock Performance

Yiren Digital stock opened at $5.92 on Tuesday. Yiren Digital has a fifty-two week low of $2.25 and a fifty-two week high of $9.20. The company has a market cap of $514.63 million, a PE ratio of 1.85 and a beta of 0.72. The business’s 50-day simple moving average is $5.65 and its two-hundred day simple moving average is $5.08.

Yiren Digital (NYSE:YRD) last issued its 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 firm had revenue of $205.93 million for the quarter.

Yiren Digital Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 30th. This represents a dividend yield of 3.5%. Yiren Digital’s dividend payout ratio (DPR) is presently 10.73%.

Hedge Funds Weigh In On Yiren Digital

Several institutional investors and hedge funds have recently modified their holdings of YRD. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Yiren Digital by 44.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,463 shares of the technology company’s stock worth $1,459,000 after purchasing an additional 78,415 shares during the period. Ballentine Partners LLC purchased a new stake in Yiren Digital during the third quarter worth $78,000. Creative Planning acquired a new stake in Yiren Digital during the third quarter valued at $89,000. XTX Topco Ltd purchased a new position in Yiren Digital in the second quarter valued at $70,000. Finally, Dimensional Fund Advisors LP increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.