Yiren Digital (NYSE:YRD) Trading Up 7.4% – Should You Buy?

Yiren Digital Ltd. (NYSE:YRD) shares were up 7.4% on Thursday . The stock traded as high as $6.80 and last traded at $6.88. Approximately 97,533 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 144,282 shares. The stock had previously closed at $6.40.

Yiren Digital Price Performance

The company has a market capitalization of $605.71 million, a P/E ratio of 2.42 and a beta of 0.76. The company’s 50-day moving average price is $6.22 and its two-hundred day moving average price is $5.94.

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

Yiren Digital Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a $0.22 dividend. The ex-dividend date was Wednesday, April 30th. This is a positive change from Yiren Digital’s previous semi-annual dividend of $0.20. This represents a dividend yield of 2.6%. Yiren Digital’s dividend payout ratio is presently 15.94%.

Hedge Funds Weigh In On Yiren Digital

Several large investors have recently modified their holdings of the stock. Trexquant Investment LP raised its position in shares of Yiren Digital by 48.8% in the first quarter. Trexquant Investment LP now owns 42,619 shares of the technology company’s stock valued at $293,000 after purchasing an additional 13,973 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Yiren Digital by 15.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,987 shares of the technology company’s stock valued at $2,711,000 after acquiring an additional 52,110 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Yiren Digital in the first quarter valued at about $103,000. XTX Topco Ltd acquired a new position in shares of Yiren Digital in the first quarter valued at about $220,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of 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 valued at $185,000 after acquiring an additional 11,583 shares in the last quarter. 1.99% of the stock is 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.