Yirendai Ltd – (NYSE:YRD) shares fell 6.8% on Thursday . The stock traded as low as $38.60 and last traded at $38.82. 776,863 shares traded hands during trading, an increase of 52% from the average session volume of 509,850 shares. The stock had previously closed at $41.66.

Several brokerages have recently weighed in on YRD. ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded Yirendai from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. TheStreet raised Yirendai from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Macquarie began coverage on Yirendai in a research note on Tuesday, November 14th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of Yirendai in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $52.00.

The company has a market cap of $2,320.00 and a P/E ratio of 11.66.

Yirendai (NYSE:YRD) last announced its earnings results on Tuesday, November 14th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.04). Yirendai had a return on equity of 70.10% and a net margin of 27.09%. The business had revenue of $227.50 million for the quarter, compared to analyst estimates of $201.27 million. During the same period in the previous year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 73.0% compared to the same quarter last year. research analysts forecast that Yirendai Ltd – will post 3.1 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sylebra HK Co Ltd raised its stake in Yirendai by 60.6% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,377,270 shares of the technology company’s stock valued at $57,763,000 after purchasing an additional 519,576 shares during the last quarter. Acadian Asset Management LLC raised its stake in Yirendai by 504.5% in the 4th quarter. Acadian Asset Management LLC now owns 856,129 shares of the technology company’s stock valued at $37,645,000 after purchasing an additional 714,503 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Yirendai by 92.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,161 shares of the technology company’s stock valued at $11,754,000 after purchasing an additional 225,794 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Yirendai in the 3rd quarter valued at $3,845,000. Finally, First Trust Advisors LP raised its stake in Yirendai by 17.0% in the 3rd quarter. First Trust Advisors LP now owns 90,593 shares of the technology company’s stock valued at $3,799,000 after purchasing an additional 13,130 shares during the last quarter. 8.76% of the stock is owned by hedge funds and other institutional investors.

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About Yirendai

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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