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

StockNews.com cut shares of Yiren Digital (NYSE:YRD) from a strong-buy rating to a buy rating in a report published on Monday morning.

Yiren Digital Stock Up 5.0 %

Shares of NYSE:YRD opened at $5.05 on Monday. The company’s 50-day moving average price is $5.02 and its 200 day moving average price is $4.26. The company has a market cap of $439.00 million, a PE ratio of 1.55 and a beta of 0.66. Yiren Digital has a fifty-two week low of $1.94 and a fifty-two week high of $5.80.

Yiren Digital (NYSE:YRD) last announced its quarterly earnings results on Thursday, March 21st. The technology company reported $0.91 EPS for the quarter. The company had revenue of $179.48 million for the quarter. Yiren Digital had a net margin of 42.51% and a return on equity of 28.62%.

Institutional Investors Weigh In On Yiren Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Yiren Digital by 63.9% during the first quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock worth $1,817,000 after purchasing an additional 158,772 shares in the last quarter. RFG Advisory LLC acquired a new position in shares of Yiren Digital during the 1st quarter valued at $715,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Yiren Digital by 238.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,425 shares of the technology company’s stock worth $140,000 after buying an additional 40,479 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of Yiren Digital in the first quarter valued at $223,000. Finally, EntryPoint Capital LLC bought a new position in Yiren Digital during the first quarter valued at about $72,000. 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.