Yiren Digital (NYSE:YRD) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Yiren Digital (NYSE:YRD) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Yiren Digital Price Performance

Shares of NYSE:YRD opened at $4.47 on Thursday. The company has a 50 day moving average of $4.63 and a 200-day moving average of $4.84. Yiren Digital has a one year low of $2.16 and a one year high of $5.80. The stock has a market cap of $388.58 million, a price-to-earnings ratio of 1.34 and a beta of 0.69.

Yiren Digital (NYSE:YRD) last posted its quarterly earnings results on Tuesday, August 20th. The technology company reported $0.65 earnings per share for the quarter. The company 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 announced a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 30th. This represents a yield of 3.5%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of Yiren Digital during the second quarter worth about $70,000. EntryPoint Capital LLC bought a new position in Yiren Digital in the first quarter valued at approximately $72,000. Advisors Preferred LLC acquired a new position in shares of Yiren Digital in the first quarter valued at approximately $76,000. Banco BTG Pactual S.A. bought a new stake in shares of Yiren Digital during the first quarter worth $223,000. Finally, Secure Asset Management LLC acquired a new stake in shares of Yiren Digital during the second quarter worth $310,000. 1.99% of the stock is currently 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.