Shares of Yirendai Ltd – (NYSE:YRD) rose 26.4% on Friday . The stock traded as high as $18.20 and last traded at $17.66. Approximately 2,187,232 shares traded hands during mid-day trading, an increase of 327% from the average daily volume of 512,318 shares. The stock had previously closed at $13.97.
YRD has been the subject of several recent research reports. Needham & Company LLC lowered their price objective on Yirendai from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 29th. ValuEngine downgraded Yirendai from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. TheStreet downgraded Yirendai from a “c-” rating to a “d+” rating in a research report on Thursday, May 31st. Morgan Stanley downgraded Yirendai from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 25th. Finally, Zacks Investment Research downgraded Yirendai from a “hold” rating to a “strong sell” rating in a research report on Saturday, June 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Yirendai has a consensus rating of “Hold” and a consensus price target of $47.00.
The stock has a market cap of $840.31 million, a price-to-earnings ratio of 5.12 and a beta of 4.53.
Yirendai (NYSE:YRD) last announced its quarterly earnings data on Thursday, May 24th. The technology company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.73. Yirendai had a return on equity of 51.90% and a net margin of 21.93%. The firm had revenue of $253.90 million during the quarter, compared to the consensus estimate of $250.75 million. During the same quarter in the previous year, the company posted $5.81 earnings per share. equities analysts predict that Yirendai Ltd – will post 2.41 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of YRD. Deutsche Bank AG increased its stake in shares of Yirendai by 621.7% during the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the technology company’s stock valued at $132,000 after buying an additional 2,605 shares during the period. Jane Street Group LLC purchased a new position in shares of Yirendai during the second quarter valued at approximately $210,000. Cubist Systematic Strategies LLC purchased a new position in shares of Yirendai during the first quarter valued at approximately $239,000. Verition Fund Management LLC purchased a new position in shares of Yirendai during the first quarter valued at approximately $287,000. Finally, BB&T Securities LLC purchased a new position in shares of Yirendai during the second quarter valued at approximately $295,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.
About Yirendai (NYSE:YRD)
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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