Yirendai (NYSE:YRD) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Yirendai (NYSE:YRD) from a buy rating to a hold rating in a research report sent to investors on Sunday, Zacks.com reports.

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

Several other brokerages have also recently commented on YRD. ValuEngine cut shares of Yirendai from a sell rating to a strong sell rating in a report on Thursday, August 1st. Macquarie lowered shares of Yirendai from a neutral rating to an underperform rating and set a $6.00 price target on the stock. in a report on Wednesday, September 4th.

Shares of NYSE YRD opened at $9.27 on Friday. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.13. Yirendai has a 12 month low of $8.50 and a 12 month high of $20.96. The company has a market cap of $575.82 million, a price-to-earnings ratio of 2.07 and a beta of 2.74. The business has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $13.21.

Yirendai (NYSE:YRD) last issued its quarterly earnings results on Tuesday, September 3rd. The technology company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.24). The company had revenue of $322.89 million during the quarter. Yirendai had a return on equity of 32.93% and a net margin of 15.30%. As a group, sell-side analysts expect that Yirendai will post 2.04 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group purchased a new stake in shares of Yirendai in the second quarter valued at $662,000. Royal Bank of Canada grew its holdings in shares of Yirendai by 417.7% during the second quarter. Royal Bank of Canada now owns 47,243 shares of the technology company’s stock valued at $650,000 after buying an additional 38,118 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Yirendai by 17.3% during the second quarter. BlackRock Inc. now owns 242,583 shares of the technology company’s stock valued at $3,337,000 after buying an additional 35,716 shares in the last quarter. Davis Selected Advisers raised its position in Yirendai by 0.5% during the second quarter. Davis Selected Advisers now owns 2,692,098 shares of the technology company’s stock valued at $37,043,000 after buying an additional 12,859 shares during the period. Finally, Northern Trust Corp raised its position in Yirendai by 17.1% during the second quarter. Northern Trust Corp now owns 15,239 shares of the technology company’s stock valued at $210,000 after buying an additional 2,228 shares during the period. 10.78% of the stock is currently owned by institutional investors.

Yirendai Company Profile

Yirendai Ltd. operates as an online consumer finance marketplace that connects borrowers and investors primarily in the People's Republic of China. It offers standard loan products; and fasttrack loan products through mobile applications. The company also provides investing tools. The company was founded in 2012 and is based in Beijing, the People's Republic of China.

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