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

Yirendai Ltd. (NYSE:YRD)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.43 and traded as low as $1.20. Yirendai shares last traded at $1.27, with a volume of 101,552 shares traded.

Analyst Ratings Changes

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

Yirendai Trading Up 3.3%

The stock’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $2.56. The firm has a market capitalization of $111.11 million, a price-to-earnings ratio of -1.08 and a beta of 1.13.

Yirendai (NYSE:YRD) last issued its earnings results on Friday, June 26th. The technology company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($1.20). The firm had revenue of $132.73 million for the quarter, compared to analyst estimates of $237.43 million. Yirendai had a negative return on equity of 7.58% and a negative net margin of 14.35%.

Yirendai announced that its Board of Directors has initiated a share buyback program on Thursday, July 2nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ramsey Quantitative Systems acquired a new stake in shares of Yirendai during the 2nd quarter worth about $110,000. Dimensional Fund Advisors LP boosted its holdings in Yirendai by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,116,961 shares of the technology company’s stock valued at $1,917,000 after purchasing an additional 33,490 shares in the last quarter. XTX Topco Ltd boosted its holdings in Yirendai by 52.8% in the fourth quarter. XTX Topco Ltd now owns 47,898 shares of the technology company’s stock valued at $177,000 after purchasing an additional 16,554 shares in the last quarter. Verdad Advisers LP purchased a new position in Yirendai in the fourth quarter valued at approximately $195,000. Finally, Trexquant Investment LP increased its stake in Yirendai by 12.2% in the fourth quarter. Trexquant Investment LP now owns 81,138 shares of the technology company’s stock valued at $300,000 after purchasing an additional 8,838 shares during the last quarter. Hedge funds and other institutional investors own 1.99% of the company’s stock.

About Yirendai

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.