Yiren Digital Ltd. (NYSE:YRD – Get Free Report)’s stock price dropped 3.5% during trading on Monday . The company traded as low as $6.17 and last traded at $6.26. Approximately 67,863 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 144,281 shares. The stock had previously closed at $6.49.
Analysts Set New Price Targets
Separately, StockNews.com cut Yiren Digital from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 7th.
Get Our Latest Report on Yiren Digital
Yiren Digital Price Performance
Yiren Digital (NYSE:YRD – Get Free Report) last announced its quarterly earnings results 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
The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a dividend yield of 3.5%. Yiren Digital’s payout ratio is currently 10.21%.
Institutional Investors Weigh In On Yiren Digital
A number of institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Yiren Digital in the 2nd quarter valued at about $70,000. Advisors Preferred LLC purchased a new position in shares of Yiren Digital during the 1st quarter valued at approximately $76,000. Creative Planning acquired a new stake in Yiren Digital during the third quarter valued at $89,000. EntryPoint Capital LLC acquired a new position in shares of Yiren Digital in the first quarter worth about $72,000. Finally, Acadian Asset Management LLC increased its stake in shares of Yiren Digital by 6.3% in 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 in the last quarter. Institutional investors and hedge funds 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.
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