Yiren Digital (NYSE:YRD) Upgraded at StockNews.com

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

Yiren Digital Stock Up 28.3 %

YRD opened at $7.30 on Friday. The business’s fifty day simple moving average is $4.63 and its 200 day simple moving average is $4.80. Yiren Digital has a 52 week low of $2.16 and a 52 week high of $7.45. The stock has a market cap of $634.63 million, a PE ratio of 2.19 and a beta of 0.69.

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

Yiren Digital Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in 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 worth $4,626,000 after acquiring an additional 90,726 shares during the last quarter. Acadian Asset Management LLC raised its position in Yiren Digital by 6.3% during the 2nd 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 during the last quarter. RFG Advisory LLC purchased a new stake in Yiren Digital in the 1st quarter worth approximately $715,000. Secure Asset Management LLC bought a new stake in shares of Yiren Digital in the 2nd quarter worth approximately $310,000. Finally, Banco BTG Pactual S.A. bought a new position in shares of Yiren Digital during the first quarter valued at approximately $223,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

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.