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

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

A number of other analysts have also recently issued reports on YRD. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price objective (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. ValuEngine lowered Yirendai from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st.

Yirendai (NYSE:YRD) opened at 44.02 on Friday. The company has a market capitalization of $2.63 billion, a P/E ratio of 13.08 and a beta of 8.56. Yirendai has a 12 month low of $19.74 and a 12 month high of $45.00. The firm has a 50-day moving average price of $38.75 and a 200 day moving average price of $28.97.

Yirendai (NYSE:YRD) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.04). Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The business had revenue of $773.79 million during the quarter, compared to analyst estimates of $153.78 million. During the same period in the previous year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 343.4% on a year-over-year basis. Analysts expect that Yirendai will post $2.94 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Yirendai by 37.3% during the first quarter. First Trust Advisors LP now owns 46,295 shares of the technology company’s stock worth $1,162,000 after purchasing an additional 12,581 shares during the period. Koch Industries Inc. increased its stake in shares of Yirendai by 74.7% during the first quarter. Koch Industries Inc. now owns 18,577 shares of the technology company’s stock worth $466,000 after purchasing an additional 7,942 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Yirendai during the second quarter worth approximately $220,000. Renaissance Technologies LLC increased its stake in shares of Yirendai by 224.3% during the first quarter. Renaissance Technologies LLC now owns 170,600 shares of the technology company’s stock worth $4,280,000 after purchasing an additional 118,000 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Yirendai during the first quarter worth approximately $176,000. Institutional investors own 6.87% of the company’s stock.

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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