Macquarie Initiates Coverage on Yirendai Ltd. (YRD)

Macquarie assumed coverage on shares of Yirendai Ltd. (NYSE:YRD) in a research report issued on Tuesday. The firm set an “outperform” rating on the technology company’s stock.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Yirendai from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $42.00 price objective (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. Finally, ValuEngine downgraded shares of Yirendai from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.67.

Yirendai (YRD) opened at $41.85 on Tuesday. Yirendai has a 1-year low of $19.85 and a 1-year high of $53.50. The firm has a market cap of $2,552.18, a price-to-earnings ratio of 13.10 and a beta of 8.34.

COPYRIGHT VIOLATION WARNING: This story was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://transcriptdaily.com/2017/11/14/macquarie-initiates-coverage-on-yirendai-ltd-yrd.html.

Large investors have recently modified their holdings of the business. Sylebra HK Co Ltd boosted its stake in Yirendai by 133.3% in the 2nd quarter. Sylebra HK Co Ltd now owns 857,694 shares of the technology company’s stock worth $21,442,000 after purchasing an additional 490,089 shares during the period. Dimensional Fund Advisors LP bought a new position in Yirendai in the 1st quarter worth approximately $6,131,000. Renaissance Technologies LLC boosted its stake in Yirendai by 224.3% in the 1st quarter. Renaissance Technologies LLC now owns 170,600 shares of the technology company’s stock worth $4,280,000 after purchasing an additional 118,000 shares during the period. Victory Capital Management Inc. bought a new position in Yirendai in the 3rd quarter worth approximately $3,845,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Yirendai by 115.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 72,999 shares of the technology company’s stock worth $1,832,000 after purchasing an additional 39,108 shares during the period. 6.62% of the stock is owned by institutional investors and hedge funds.

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.

Receive News & Ratings for Yirendai Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yirendai Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply