Zacks Investment Research Lowers Yirendai (YRD) to Hold

Zacks Investment Research downgraded shares of Yirendai (NYSE:YRD) from a buy rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “

Other equities research analysts have also issued research reports about the company. Macquarie lowered Yirendai from an outperform rating to a neutral rating in a research note on Thursday, March 21st. ValuEngine lowered Yirendai from a sell rating to a strong sell rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Yirendai has an average rating of Hold and a consensus target price of $25.00.

Shares of YRD stock opened at $15.42 on Friday. Yirendai has a fifty-two week low of $9.61 and a fifty-two week high of $37.40. The stock has a market cap of $908.84 million, a PE ratio of 3.44 and a beta of 3.49.

Yirendai (NYSE:YRD) last issued its quarterly earnings results on Monday, March 25th. The technology company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.81. Yirendai had a return on equity of 38.20% and a net margin of 18.18%. The business had revenue of $184.80 million for the quarter, compared to analyst estimates of $185.27 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The company’s revenue was down 34.1% on a year-over-year basis.

Several hedge funds have recently modified their holdings of the company. Segantii Capital Management Ltd purchased a new stake in Yirendai in the first quarter valued at approximately $32,000. Northern Trust Corp purchased a new stake in Yirendai in the fourth quarter valued at approximately $137,000. Rehmann Capital Advisory Group purchased a new stake in Yirendai in the third quarter valued at approximately $245,000. Virtu Financial LLC purchased a new stake in Yirendai in the fourth quarter valued at approximately $160,000. Finally, Barclays PLC boosted its position in Yirendai by 782.1% in the fourth quarter. Barclays PLC now owns 33,309 shares of the technology company’s stock valued at $358,000 after buying an additional 29,533 shares during the last quarter. Institutional investors and hedge funds own 10.97% of the company’s stock.

About Yirendai

Yirendai Ltd. operates as an online consumer finance marketplace that connects borrowers and investors primarily in the People's Republic of China. It offers standard loan products; and fasttrack loan products through mobile applications. The company also provides investing tools. The company was founded in 2012 and is based in Beijing, the People's Republic of China.

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