Yiren Digital (NYSE:YRD) Cut to “Buy” at StockNews.com

Yiren Digital (NYSE:YRD) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Yiren Digital Price Performance

Shares of NYSE:YRD opened at $4.66 on Friday. The company has a market cap of $405.12 million, a price-to-earnings ratio of 1.40 and a beta of 0.69. The business has a 50 day moving average price of $4.63 and a 200 day moving average price of $4.81. Yiren Digital has a twelve month low of $2.16 and a twelve month high of $5.80.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of YRD. Dimensional Fund Advisors LP raised its holdings in shares of Yiren Digital by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock worth $4,626,000 after buying an additional 90,726 shares in the last quarter. Acadian Asset Management LLC raised its stake in Yiren Digital by 6.3% during the second quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock worth $1,943,000 after acquiring an additional 25,811 shares in the last quarter. RFG Advisory LLC bought a new position in shares of Yiren Digital during the first quarter valued at $715,000. Secure Asset Management LLC acquired a new stake in shares of Yiren Digital in the 2nd quarter valued at $310,000. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Yiren Digital in the 1st quarter worth about $223,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.