Yiren Digital (NYSE:YRD) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Yiren Digital (NYSE:YRD) from a buy rating to a strong-buy rating in a research note released on Sunday.

Yiren Digital Stock Performance

Shares of NYSE YRD opened at $7.30 on Friday. The company has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $4.80. Yiren Digital has a fifty-two week low of $2.16 and a fifty-two week high of $7.45. The company has a market capitalization of $634.63 million, a price-to-earnings ratio of 2.19 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. Yiren Digital had a return on equity of 24.38% and a net margin of 37.05%. The business had revenue of $205.93 million for the quarter.

Yiren Digital Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Yiren Digital in the 2nd quarter worth approximately $70,000. EntryPoint Capital LLC purchased a new stake in Yiren Digital during the first quarter valued at $72,000. Advisors Preferred LLC bought a new position in Yiren Digital in the first quarter valued at about $76,000. Banco BTG Pactual S.A. purchased a new position in Yiren Digital in the first quarter worth about $223,000. Finally, Secure Asset Management LLC bought a new stake in shares of Yiren Digital during the 2nd quarter valued at about $310,000. 1.99% of the stock is owned by institutional investors.

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.