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 research note issued to investors on Friday.

According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “

YRD has been the topic of a number of other research reports. ValuEngine raised Yirendai from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Needham & Company LLC reissued a “buy” rating and set a $42.00 price objective (up previously from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call.

Yirendai (YRD) opened at 44.72 on Friday. The company has a market cap of $2.67 billion, a PE ratio of 13.29 and a beta of 8.56. Yirendai has a 12 month low of $19.74 and a 12 month high of $45.00. The company has a 50 day moving average price of $39.02 and a 200-day moving average price of $29.12.

Yirendai (NYSE:YRD) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.66 earnings per share (EPS) 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 analysts’ expectations of $153.78 million. Yirendai had a return on equity of 80.79% and a net margin of 32.37%. The business’s revenue for the quarter was up 343.4% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. Equities analysts predict that Yirendai will post $2.96 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in YRD. First Trust Advisors LP increased its stake in Yirendai by 37.3% in the 1st quarter. First Trust Advisors LP now owns 46,295 shares of the technology company’s stock worth $1,162,000 after acquiring an additional 12,581 shares during the last quarter. Sei Investments Co. bought a new position in Yirendai in the 1st quarter worth about $176,000. Parametric Portfolio Associates LLC bought a new position in Yirendai in the 1st quarter worth about $362,000. State of Wisconsin Investment Board increased its stake in Yirendai by 230.6% in the 1st quarter. State of Wisconsin Investment Board now owns 50,900 shares of the technology company’s stock worth $1,277,000 after acquiring an additional 35,505 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Yirendai in the 1st quarter worth about $1,766,000. Institutional investors and hedge funds own 6.87% of the company’s stock.

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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