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 published on Sunday morning.

Yiren Digital Trading Up 9.6 %

Shares of NYSE YRD opened at $8.00 on Friday. The stock has a market cap of $695.48 million, a P/E ratio of 2.40 and a beta of 0.69. Yiren Digital has a 12-month low of $2.16 and a 12-month high of $9.20. The business’s fifty day simple moving average is $4.68 and its 200-day simple moving average is $4.81.

Yiren Digital (NYSE:YRD) last posted its earnings results on Tuesday, August 20th. The technology company reported $0.65 EPS for the quarter. The firm had revenue of $205.93 million for 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 will be paid on Tuesday, October 15th. Shareholders 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%.

Hedge Funds Weigh In On Yiren Digital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its position in Yiren Digital by 63.9% in the 1st quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock valued at $1,817,000 after buying an additional 158,772 shares during the last quarter. RFG Advisory LLC purchased a new position in Yiren Digital in the 1st quarter valued at $715,000. Secure Asset Management LLC purchased a new position in Yiren Digital in the 2nd quarter valued at $310,000. EntryPoint Capital LLC purchased a new position in Yiren Digital in the 1st quarter valued at $72,000. Finally, Advisors Preferred LLC purchased a new position in Yiren Digital in the 1st quarter valued at $76,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.