Yirendai Ltd. (NYSE:YRD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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

Other research analysts have also issued reports about the company. ValuEngine lowered Yirendai from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price (up from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call.

Shares of Yirendai (NYSE:YRD) traded down 1.58% during midday trading on Friday, hitting $41.13. The stock had a trading volume of 255,576 shares. Yirendai has a 12-month low of $18.80 and a 12-month high of $42.10. The stock has a market cap of $2.46 billion, a P/E ratio of 12.35 and a beta of 8.56. The stock has a 50-day moving average price of $37.71 and a 200-day moving average price of $28.42.

Yirendai (NYSE:YRD) last issued its earnings results 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. The firm had revenue of $773.79 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. Equities analysts forecast that Yirendai will post $2.94 earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of YRD. Sei Investments Co. purchased a new position in shares of Yirendai in the 1st quarter worth $176,000. Bank of America Corp DE raised its position in Yirendai by 24.5% in the first quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,504 shares during the period. TIAA CREF Investment Management LLC purchased a new position in Yirendai in the second quarter valued at about $204,000. Global X Management Co. LLC raised its position in Yirendai by 399.0% in the second quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock valued at $206,000 after purchasing an additional 6,576 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Yirendai in the second quarter valued at about $220,000. 6.87% of the stock is currently owned by institutional investors and hedge funds.

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.

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