Yiren Digital (NYSE:YRD) Downgraded to “Buy” at StockNews.com

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

Yiren Digital Stock Performance

Shares of Yiren Digital stock opened at $4.50 on Thursday. Yiren Digital has a one year low of $2.16 and a one year high of $5.80. The company has a market capitalization of $391.19 million, a PE ratio of 1.35 and a beta of 0.69. The company has a 50-day simple moving average of $4.63 and a two-hundred day simple moving average of $4.83.

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

Yiren Digital Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.20 per share. This represents a yield of 3.5%. The ex-dividend date is Monday, September 30th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in Yiren Digital during the second quarter worth approximately $70,000. Advisors Preferred LLC purchased a new position in shares of Yiren Digital during the 1st quarter valued at approximately $76,000. EntryPoint Capital LLC purchased a new position in Yiren Digital during the first quarter valued at $72,000. Acadian Asset Management LLC grew its position in shares of 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 during the period. Finally, Banco BTG Pactual S.A. acquired a new position in shares of Yiren Digital during the 1st quarter worth about $223,000. Hedge funds and other institutional investors 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.