Zacks Investment Research Downgrades Yirendai Ltd. (YRD) to Hold
Yirendai Ltd. (NYSE:YRD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “
Several other research analysts have also commented on YRD. Needham & Company LLC restated a “buy” rating and set a $42.00 price target (up from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call. ValuEngine lowered Yirendai from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st.
Shares of Yirendai (NYSE:YRD) opened at 45.60 on Thursday. The company has a 50-day moving average of $42.22 and a 200 day moving average of $30.96. Yirendai has a 52-week low of $19.85 and a 52-week high of $45.91. The firm has a market cap of $2.73 billion, a P/E ratio of 13.39 and a beta of 8.51.
Yirendai (NYSE:YRD) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). Yirendai had a return on equity of 80.79% and a net margin of 32.37%. The firm had revenue of $773.79 million for the quarter, compared to analysts’ expectations of $153.78 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 343.4% on a year-over-year basis. On average, equities analysts expect that Yirendai will post $2.92 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of YRD. Sei Investments Co. acquired a new stake in Yirendai in the first quarter valued at $176,000. Bank of America Corp DE increased its position in shares of Yirendai by 24.5% during the first quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,504 shares in the last quarter. TIAA CREF Investment Management LLC acquired a new stake in shares of Yirendai during the second quarter worth about $204,000. Global X Management Co. LLC increased its position in shares of Yirendai by 399.0% during the second quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock worth $206,000 after purchasing an additional 6,576 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Yirendai during the second quarter worth about $220,000. Institutional investors own 6.87% of the company’s stock.
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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