Yirendai Ltd. (NYSE:YRD) Short Interest Down 39.2% in August

Yirendai Ltd. (NYSE:YRD) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 112,299 shares, a drop of 39.2% from the July 30th total of 184,848 shares. Based on an average trading volume of 64,206 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Yirendai in a report on Wednesday, August 19th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Yirendai currently has an average rating of “Sell”.

Institutional Investors Weigh In On Yirendai

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its position in Yirendai by 35.7% during the second quarter. American Century Companies Inc. now owns 23,799 shares of the technology company’s stock valued at $140,000 after purchasing an additional 6,261 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Yirendai by 5,362.0% in the third quarter. Raymond James Financial Inc. now owns 27,310 shares of the technology company’s stock worth $162,000 after purchasing an additional 26,810 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Yirendai by 6.3% in the third quarter. Public Employees Retirement System of Ohio now owns 49,229 shares of the technology company’s stock worth $292,000 after purchasing an additional 2,933 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Yirendai by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,083,471 shares of the technology company’s stock valued at $4,010,000 after buying an additional 4,123 shares during the period. Finally, Arete Wealth Advisors LLC bought a new position in shares of Yirendai during the fourth quarter valued at about $37,000. 1.99% of the stock is owned by institutional investors.

Yirendai Stock Up 3.7%

YRD stock traded up $0.04 during midday trading on Wednesday, hitting $1.02. 44,718 shares of the company traded hands, compared to its average volume of 451,996. The stock has a market capitalization of $89.24 million, a price-to-earnings ratio of -0.86 and a beta of 1.15. The business has a 50 day simple moving average of $1.17 and a 200-day simple moving average of $1.87. Yirendai has a twelve month low of $0.82 and a twelve month high of $6.79.

Yirendai (NYSE:YRD) last released its earnings results on Friday, June 26th. The technology company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($1.20). Yirendai had a negative net margin of 14.35% and a negative return on equity of 7.58%. The company had revenue of $132.73 million during the quarter, compared to analyst estimates of $237.43 million.

Yirendai declared that its board has initiated a share buyback program on Thursday, July 2nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Yirendai

Yirendai Ltd is a leading fintech credit marketplace in China, offering consumer financing solutions through a digital platform. As a subsidiary of CreditEase, one of the country’s earliest peer-to-peer lending pioneers, Yirendai facilitates connections between individual borrowers and institutional or retail investors. The company’s integrated platform handles borrower screening, credit assessment, risk management and loan servicing to deliver a streamlined, transparent lending experience.

The company provides unsecured personal loans for purposes such as debt consolidation, home improvement and small business investment.