Yirendai Ltd. (YRD) Downgraded by Zacks Investment Research

Yirendai Ltd. (NYSE:YRD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, September 9th.

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

A number of other research firms also recently commented on YRD. Needham & Company LLC restated a “buy” rating and set a $42.00 price objective (up from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call. ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th.

Yirendai (NYSE:YRD) traded up 0.40% on Friday, hitting $44.72. The stock had a trading volume of 241,430 shares. Yirendai has a 12 month low of $19.74 and a 12 month high of $45.00. The company’s 50 day moving average is $39.02 and its 200-day moving average is $29.12. The stock has a market cap of $2.67 billion, a P/E ratio of 13.29 and a beta of 8.56.

Yirendai (NYSE:YRD) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). The firm had revenue of $773.79 million for the quarter, compared to analyst estimates of $153.78 million. Yirendai had a return on equity of 80.79% and a net margin of 32.37%. The company’s quarterly revenue was up 343.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. Analysts forecast that Yirendai will post $2.96 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. acquired a new stake in Yirendai in the 1st quarter valued at $176,000. Bank of America Corp DE boosted its position in Yirendai by 24.5% in the 1st quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock valued at $192,000 after buying an additional 1,504 shares during the last quarter. TIAA CREF Investment Management LLC purchased a new position in Yirendai in the 2nd quarter valued at about $204,000. Global X Management Co. LLC boosted its position in Yirendai by 399.0% in the 2nd quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock valued at $206,000 after buying an additional 6,576 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Yirendai in the 2nd quarter valued at about $220,000. Hedge funds and other institutional investors own 6.87% of the company’s stock.

Yirendai Company Profile

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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