Yiren Digital (NYSE:YRD) Shares Gap Down – Here’s Why

Yiren Digital Ltd. (NYSE:YRD) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.61, but opened at $7.62. Yiren Digital shares last traded at $7.36, with a volume of 191,558 shares.

Yiren Digital Price Performance

The company has a market capitalization of $604.45 million, a P/E ratio of 2.38 and a beta of 0.65. The stock has a 50-day moving average price of $6.34 and a 200-day moving average price of $5.67.

Yiren Digital (NYSE:YRD) last issued its quarterly earnings data on Thursday, March 20th. The technology company reported $0.52 earnings per share (EPS) for the quarter. The company had revenue of $198.95 million during the quarter. Yiren Digital had a return on equity of 20.85% and a net margin of 32.37%.

Yiren Digital Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.22 dividend. This is an increase from Yiren Digital’s previous semi-annual dividend of $0.20. This represents a yield of 2.6%. The ex-dividend date is Wednesday, April 30th. Yiren Digital’s payout ratio is presently 11.72%.

Institutional Investors Weigh In On Yiren Digital

A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its holdings in Yiren Digital by 43.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 38,528 shares of the technology company’s stock worth $185,000 after purchasing an additional 11,583 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Yiren Digital in the fourth quarter valued at approximately $61,000. AXA S.A. grew its stake in Yiren Digital by 80.7% in the fourth quarter. AXA S.A. now owns 11,562 shares of the technology company’s stock valued at $55,000 after acquiring an additional 5,165 shares during the period. Dimensional Fund Advisors LP grew its stake in Yiren Digital by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,088,920 shares of the technology company’s stock valued at $5,225,000 after acquiring an additional 30,641 shares during the period. Finally, Invesco Ltd. acquired a new stake in Yiren Digital in the fourth quarter valued at approximately $71,000. 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.