Short Interest in Yiren Digital Ltd. (NYSE:YRD) Drops By 22.0%

Yiren Digital Ltd. (NYSE:YRD) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 139,000 shares, a decline of 22.0% from the September 15th total of 178,200 shares. Based on an average daily volume of 158,100 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Yiren Digital

Several hedge funds have recently modified their holdings of YRD. XTX Topco Ltd purchased a new position in Yiren Digital during the second quarter valued at approximately $70,000. Advisors Preferred LLC bought a new position in shares of Yiren Digital in the 1st quarter worth $76,000. Creative Planning purchased a new stake in shares of Yiren Digital during the 3rd quarter worth $89,000. EntryPoint Capital LLC bought a new stake in Yiren Digital during the first quarter valued at about $72,000. Finally, Acadian Asset Management LLC grew its stake in Yiren Digital by 6.3% in the second quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 25,811 shares during the last quarter. Hedge funds and other institutional investors own 1.99% of the company’s stock.

Yiren Digital Stock Down 5.2 %

NYSE:YRD traded down $0.34 during midday trading on Monday, hitting $6.15. The stock had a trading volume of 252,060 shares, compared to its average volume of 145,229. The stock has a 50-day moving average of $5.06 and a 200 day moving average of $4.92. The company has a market capitalization of $534.65 million, a price-to-earnings ratio of 1.85 and a beta of 0.72. Yiren Digital has a one year low of $2.16 and a one year high of $9.20.

Yiren Digital (NYSE:YRD) last posted its quarterly earnings results 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 return on equity of 24.38% and a net margin of 37.05%.

Yiren Digital Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.20 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend is Monday, September 30th. Yiren Digital’s dividend payout ratio (DPR) is 10.21%.

Analysts Set New Price Targets

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

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.