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 issued to investors on Thursday morning.

Yiren Digital Price Performance

Shares of NYSE:YRD opened at $5.77 on Thursday. Yiren Digital has a 1 year low of $2.16 and a 1 year high of $9.20. The stock has a market capitalization of $501.59 million, a price-to-earnings ratio of 1.82 and a beta of 0.72. The company’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $5.02.

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

Yiren Digital Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a yield of 3.5%. Yiren Digital’s dividend payout ratio is currently 10.73%.

Hedge Funds Weigh In On Yiren Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Yiren Digital during the 2nd quarter valued at approximately $70,000. EntryPoint Capital LLC acquired a new position in Yiren Digital in the first quarter valued at $72,000. Advisors Preferred LLC acquired a new position in Yiren Digital in the first quarter valued at $76,000. Ballentine Partners LLC bought a new stake in Yiren Digital during the third quarter valued at $78,000. Finally, Creative Planning acquired a new stake in Yiren Digital during the 3rd quarter worth about $89,000. 1.99% of the stock is currently 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.