Capital Fund Management S.A. Buys New Holdings in Yirendai Ltd. (YRD)
Capital Fund Management S.A. bought a new stake in shares of Yirendai Ltd. (NYSE:YRD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,000 shares of the technology company’s stock, valued at approximately $450,000.
A number of other hedge funds also recently bought and sold shares of YRD. Sylebra HK Co Ltd purchased a new position in Yirendai during the 1st quarter valued at about $9,223,000. Dimensional Fund Advisors LP purchased a new position in Yirendai during the 1st quarter valued at about $6,131,000. Renaissance Technologies LLC grew its holdings in Yirendai by 224.3% during the 1st quarter. Renaissance Technologies LLC now owns 170,600 shares of the technology company’s stock valued at $4,280,000 after buying an additional 118,000 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Yirendai during the 1st quarter valued at about $1,766,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Yirendai by 115.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 72,999 shares of the technology company’s stock valued at $1,832,000 after buying an additional 39,108 shares in the last quarter. 6.87% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on YRD shares. Zacks Investment Research raised Yirendai from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Saturday, September 2nd. ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $42.00 price target (up previously 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 Ltd. (NYSE:YRD) opened at 45.39 on Tuesday. Yirendai Ltd. has a 12 month low of $19.74 and a 12 month high of $45.47. The company has a market cap of $2.71 billion, a P/E ratio of 13.48 and a beta of 8.56. The stock’s 50 day moving average price is $39.31 and its 200-day moving average price is $29.34.
Yirendai (NYSE:YRD) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). The company 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 business’s quarterly revenue was up 343.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. Equities research analysts expect that Yirendai Ltd. will post $2.96 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, September 28th.
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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