SignalPoint Asset Management LLC Invests $336,000 in Yirendai Ltd. (YRD)
SignalPoint Asset Management LLC acquired a new stake in Yirendai Ltd. (NYSE:YRD) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,027 shares of the technology company’s stock, valued at approximately $336,000.
Other institutional investors have also made changes to their positions in the company. Rehmann Capital Advisory Group purchased a new stake in Yirendai during the 3rd quarter valued at $205,000. Bank of America Corp DE boosted its position in Yirendai by 24.5% during the 1st quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock valued at $192,000 after buying an additional 1,504 shares during the period. TIAA CREF Investment Management LLC purchased a new stake in Yirendai during the 2nd quarter valued at $204,000. Global X Management Co. LLC boosted its position in Yirendai by 399.0% during the 2nd quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock valued at $206,000 after buying an additional 6,576 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Yirendai during the 2nd quarter valued at $220,000. 6.66% of the stock is owned by institutional investors.
YRD has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and issued a $42.00 price objective (up from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Yirendai from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, ValuEngine lowered shares of Yirendai from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 3rd.
Shares of Yirendai Ltd. (NYSE YRD) traded down $0.71 during midday trading on Friday, reaching $41.81. 317,224 shares of the company’s stock traded hands, compared to its average volume of 655,555. The firm has a market capitalization of $2,542.62, a P/E ratio of 13.05 and a beta of 8.34.
Yirendai (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). The company had revenue of $773.79 million for the quarter, compared to analyst estimates of $153.78 million. Yirendai had a return on equity of 80.79% and a net margin of 32.37%. The firm’s revenue for the quarter was up 343.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. equities research analysts expect that Yirendai Ltd. will post 3.04 EPS for the current year.
The business also recently declared a special dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, September 28th. Yirendai’s payout ratio is 45.40%.
Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.
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