Yirendai (YRD) Stock Rating Lowered by Citigroup

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Yirendai (NYSE:YRD) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat reports.

A number of other brokerages have also issued reports on YRD. Needham & Company LLC lowered shares of Yirendai from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. TheStreet upgraded shares of Yirendai from a “d” rating to a “c-” rating in a research report on Monday, August 20th. Finally, Zacks Investment Research upgraded shares of Yirendai from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.00.

Shares of YRD opened at $14.91 on Monday. Yirendai has a 52 week low of $12.39 and a 52 week high of $47.93. The stock has a market capitalization of $1.08 billion, a P/E ratio of 4.32 and a beta of 4.38.

Yirendai (NYSE:YRD) last announced its earnings results on Tuesday, August 28th. The technology company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). Yirendai had a return on equity of 50.11% and a net margin of 19.76%. The business had revenue of $229.60 million for the quarter, compared to analyst estimates of $231.19 million. During the same quarter in the previous year, the company earned $4.45 EPS.

Several large investors have recently made changes to their positions in the business. Copper Rock Capital Partners LLC grew its position in shares of Yirendai by 44.3% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 200,926 shares of the technology company’s stock worth $4,031,000 after purchasing an additional 61,710 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Yirendai by 4.7% during the 1st quarter. BlackRock Inc. now owns 162,280 shares of the technology company’s stock worth $6,529,000 after acquiring an additional 7,288 shares during the period. GAM Holding AG bought a new stake in shares of Yirendai during the 2nd quarter worth approximately $3,289,000. Global X Management Co LLC lifted its holdings in shares of Yirendai by 123.6% during the 2nd quarter. Global X Management Co LLC now owns 151,495 shares of the technology company’s stock worth $3,215,000 after acquiring an additional 83,752 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Yirendai by 74.9% during the 2nd quarter. First Trust Advisors LP now owns 121,446 shares of the technology company’s stock worth $2,577,000 after acquiring an additional 52,011 shares during the period. Hedge funds and other institutional investors own 9.69% 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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Analyst Recommendations for Yirendai (NYSE:YRD)

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