Yiren Digital (NYSE:YRD) Cut 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 research report report published on Saturday.

Yiren Digital Stock Down 2.8 %

Shares of YRD opened at $4.53 on Friday. The business has a 50-day simple moving average of $4.62 and a two-hundred day simple moving average of $4.81. Yiren Digital has a 52 week low of $2.16 and a 52 week high of $5.80. The stock has a market cap of $393.82 million, a price-to-earnings ratio of 1.36 and a beta of 0.69.

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

Yiren Digital Cuts Dividend

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

Institutional Trading of Yiren Digital

Several institutional investors have recently made changes to their positions in YRD. XTX Topco Ltd bought a new position in Yiren Digital in the 2nd quarter worth approximately $70,000. EntryPoint Capital LLC purchased a new position in Yiren Digital during the first quarter valued at $72,000. Advisors Preferred LLC bought a new stake in Yiren Digital in the 1st quarter valued at $76,000. Banco BTG Pactual S.A. purchased a new stake in Yiren Digital in the 1st quarter worth $223,000. Finally, Secure Asset Management LLC bought a new position in shares of Yiren Digital during the 2nd quarter valued at about $310,000. 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.