Yirendai (YRD) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Yirendai (NYSE:YRD) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 price target on the technology company’s stock.

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

Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Yirendai from a sell rating to a hold rating in a research note on Thursday, December 13th. Macquarie lowered shares of Yirendai from an outperform rating to a neutral rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $25.00.

NYSE:YRD opened at $14.25 on Thursday. Yirendai has a 12-month low of $9.61 and a 12-month high of $38.00. The company has a market capitalization of $841.52 million, a PE ratio of 3.18 and a beta of 3.48.

Yirendai (NYSE:YRD) last issued its quarterly earnings results on Monday, March 25th. The technology company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.81. The firm had revenue of $184.80 million during the quarter, compared to the consensus estimate of $185.27 million. Yirendai had a return on equity of 38.20% and a net margin of 18.18%. The company’s revenue for the quarter was down 34.1% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. Sell-side analysts forecast that Yirendai will post 2 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Krane Funds Advisors LLC grew its holdings in Yirendai by 15.5% during the third quarter. Krane Funds Advisors LLC now owns 587,462 shares of the technology company’s stock worth $10,809,000 after acquiring an additional 79,036 shares during the period. Rehmann Capital Advisory Group purchased a new position in Yirendai in the third quarter worth $13,298,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Yirendai in the third quarter valued at $3,622,000. Millennium Management LLC lifted its holdings in Yirendai by 153.1% in the fourth quarter. Millennium Management LLC now owns 124,374 shares of the technology company’s stock valued at $1,337,000 after acquiring an additional 75,226 shares during the period. Finally, Morgan Stanley boosted its position in shares of Yirendai by 14.0% during the 3rd quarter. Morgan Stanley now owns 105,852 shares of the technology company’s stock worth $1,948,000 after purchasing an additional 13,015 shares in the last quarter. Hedge funds and other institutional investors own 10.96% of the company’s stock.

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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