ValuEngine Lowers Yirendai Ltd. (NYSE:YRD) to Buy

Yirendai Ltd. (NYSE:YRD) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Yirendai from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, May 24th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective (up previously from $33.00) on shares of Yirendai in a research note on Tuesday, August 1st. They noted that the move was a valuation call.

Yirendai (NYSE:YRD) opened at 35.68 on Friday. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 10.77 and a beta of 8.56. Yirendai has a 52-week low of $18.80 and a 52-week high of $42.34. The stock has a 50 day moving average price of $30.88 and a 200 day moving average price of $25.96.

Yirendai (NYSE:YRD) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by $0.04. Yirendai had a return on equity of 80.79% and a net margin of 32.37%. The business had revenue of $773.79 million during the quarter, compared to the consensus estimate of $153.78 million. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 343.4% compared to the same quarter last year. Analysts anticipate that Yirendai will post $3.05 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of YRD. Sylebra HK Co Ltd purchased a new stake in shares of Yirendai during the first quarter worth approximately $9,223,000. Dimensional Fund Advisors LP purchased a new stake in shares of Yirendai during the first quarter worth approximately $6,131,000. Acadian Asset Management LLC boosted its stake in shares of Yirendai by 13.8% in the first quarter. Acadian Asset Management LLC now owns 972,653 shares of the technology company’s stock worth $24,403,000 after buying an additional 118,055 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Yirendai by 224.3% in the first quarter. Renaissance Technologies LLC now owns 170,600 shares of the technology company’s stock worth $4,280,000 after buying an additional 118,000 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Yirendai during the first quarter worth approximately $1,766,000. 6.18% of the stock is currently owned by institutional investors.

About Yirendai

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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