StockNews.com upgraded shares of Yiren Digital (NYSE:YRD – Free Report) 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 – Get Free Report) 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
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.
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