Yiren Digital (NYSE:YRD) Shares Gap Up - Should You Buy?

Shares of Yiren Digital Ltd. (NYSE:YRD - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $5.55, but opened at $5.84. Yiren Digital shares last traded at $5.91, with a volume of 29,876 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Yiren Digital from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 7th.

Yiren Digital Stock Performance

The company has a market cap of $504.22 million, a P/E ratio of 1.74 and a beta of 0.72. The company has a fifty day moving average price of $5.20 and a two-hundred day moving average price of $4.96.

Yiren Digital (NYSE:YRD - Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The technology company reported $0.65 earnings per share for the quarter. Yiren Digital had a net margin of 37.05% and a return on equity of 24.38%. The company had revenue of $205.93 million during the quarter.

Yiren Digital Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.20 dividend. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, September 30th. Yiren Digital's dividend payout ratio is currently 10.21%.

Institutional Trading of Yiren Digital

A number of institutional investors and hedge funds have recently bought and sold shares of YRD. Acadian Asset Management LLC lifted its holdings in shares of Yiren Digital by 63.9% in the 1st 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 bought a new position in Yiren Digital during the first quarter valued at about $715,000. Secure Asset Management LLC bought a new position in Yiren Digital during the second quarter worth about $310,000. Dimensional Fund Advisors LP boosted its position in Yiren Digital by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company's stock worth $4,626,000 after purchasing an additional 90,726 shares during the period. Finally, XTX Topco Ltd bought a new position in Yiren Digital during the second quarter worth about $70,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.