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 research report report published on Thursday.

Yiren Digital Trading Down 1.4 %

YRD stock opened at $5.64 on Thursday. The firm’s 50-day moving average is $5.39 and its two-hundred day moving average is $5.01. The company has a market capitalization of $490.31 million, a price-to-earnings ratio of 1.78 and a beta of 0.72. Yiren Digital has a 52 week low of $2.16 and a 52 week high of $9.20.

Yiren Digital (NYSE:YRD) last released its earnings results on Tuesday, August 20th. The technology company reported $0.65 earnings per share 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 during the quarter.

Yiren Digital Cuts Dividend

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

Institutional Investors Weigh In On Yiren Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC bought a new stake in shares of Yiren Digital in the 3rd quarter worth approximately $78,000. Creative Planning acquired a new position in Yiren Digital in the third quarter worth approximately $89,000. XTX Topco Ltd bought a new position in shares of Yiren Digital in the second quarter valued at $70,000. Dimensional Fund Advisors LP increased its holdings in shares of 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. Finally, Acadian Asset Management LLC lifted its position in shares of 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 acquiring an additional 25,811 shares during the last quarter. 1.99% of the stock is owned by institutional investors and hedge funds.

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.