Yiren Digital (NYSE:YRD) Shares Gap Up – Here’s What Happened

Shares of Yiren Digital Ltd. (NYSE:YRD) gapped up prior to trading on Friday . The stock had previously closed at $5.55, but opened at $5.84. Yiren Digital shares last traded at $5.91, with a volume of 29,876 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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 stock has a market cap of $504.22 million, a price-to-earnings ratio of 1.77 and a beta of 0.72. The stock’s 50-day moving average is $5.17 and its 200-day moving average is $4.95.

Yiren Digital (NYSE:YRD) last posted its quarterly earnings data on Tuesday, August 20th. The technology company reported $0.65 earnings per share (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 business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a dividend yield of 3.5%. The ex-dividend date was Monday, September 30th. Yiren Digital’s dividend payout ratio is currently 10.21%.

Institutional Investors Weigh In On Yiren Digital

Hedge funds have recently modified their holdings of the stock. RFG Advisory LLC purchased a new position in shares of Yiren Digital in the 1st quarter worth $715,000. Advisors Preferred LLC purchased a new position in shares of Yiren Digital in the 1st quarter worth about $76,000. Banco BTG Pactual S.A. acquired a new position in shares of Yiren Digital in the 1st quarter valued at about $223,000. Acadian Asset Management LLC grew its holdings 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 period. Finally, EntryPoint Capital LLC acquired a new stake in Yiren Digital during the 1st quarter worth approximately $72,000. 1.99% of the stock is owned by institutional investors and hedge funds.

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.