Yirendai (NYSE:YRD) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Yirendai Ltd. (NYSE:YRD)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.34 and traded as low as $1.2205. Yirendai shares last traded at $1.26, with a volume of 52,469 shares.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Yirendai from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Yirendai Stock Performance

The company has a market cap of $110.24 million, a P/E ratio of -1.07 and a beta of 1.13. The stock has a 50-day simple moving average of $1.34 and a 200 day simple moving average of $2.45.

Yirendai (NYSE:YRD) last released its quarterly earnings data on Friday, June 26th. The technology company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $237.43 million.

Yirendai announced that its board has approved a stock buyback plan on Thursday, July 2nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Yirendai

Institutional investors have recently bought and sold shares of the business. Arete Wealth Advisors LLC acquired a new position in shares of Yirendai during the 4th quarter worth about $37,000. American Century Companies Inc. increased its position in shares of Yirendai by 35.7% during the second quarter. American Century Companies Inc. now owns 23,799 shares of the technology company’s stock worth $140,000 after acquiring an additional 6,261 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Yirendai by 5,362.0% during the 3rd 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 in the last quarter. XTX Topco Ltd grew its holdings in shares of Yirendai by 52.8% during the fourth quarter. XTX Topco Ltd now owns 47,898 shares of the technology company’s stock worth $177,000 after buying an additional 16,554 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Yirendai by 6.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,229 shares of the technology company’s stock worth $292,000 after acquiring an additional 2,933 shares in the last quarter. Institutional investors and hedge funds own 1.99% of the company’s stock.

Yirendai Company Profile

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.