Yiren Digital (NYSE:YRD) Trading Down 3.5% – Here’s What Happened

Yiren Digital Ltd. (NYSE:YRD) shares fell 3.5% during mid-day trading on Monday . The stock traded as low as $6.17 and last traded at $6.26. 67,863 shares changed hands during trading, a decline of 53% from the average session volume of 144,281 shares. The stock had previously closed at $6.49.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Yiren Digital from a “strong-buy” rating to a “buy” rating in a report on Monday, October 7th.

Yiren Digital Price Performance

The company’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $4.94. The firm has a market cap of $491.15 million, a price-to-earnings ratio of 1.77 and a beta of 0.72.

Yiren Digital (NYSE:YRD) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $0.65 earnings per share 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 company also recently announced a Semi-Annual dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.20 dividend. The ex-dividend date was Monday, September 30th. This represents a yield of 3.5%. Yiren Digital’s dividend payout ratio (DPR) is 10.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in YRD. Acadian Asset Management LLC lifted its position in shares of Yiren Digital by 63.9% during the 1st quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock worth $1,817,000 after purchasing an additional 158,772 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of Yiren Digital during the 1st quarter worth about $715,000. Dimensional Fund Advisors LP increased its holdings 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 acquiring an additional 90,726 shares during the last quarter. Secure Asset Management LLC acquired a new stake in shares of Yiren Digital during the 2nd quarter worth about $310,000. Finally, Banco BTG Pactual S.A. purchased a new stake in Yiren Digital during the first quarter worth 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.