ValuEngine downgraded shares of Yirendai Ltd. (NYSE:YRD) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Yirendai from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Friday, August 4th. Needham & Company LLC restated a buy rating and set a $42.00 price objective (up from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call.

Shares of Yirendai (YRD) traded down 2.59% during midday trading on Tuesday, hitting $44.35. 50,983 shares of the company’s stock were exchanged. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 13.02 and a beta of 8.51. Yirendai has a 52 week low of $19.85 and a 52 week high of $45.91. The company has a 50-day moving average of $41.82 and a 200-day moving average of $30.62.

Yirendai (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 earnings per share 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 company had revenue of $773.79 million during the quarter, compared to the consensus estimate of $153.78 million. During the same period in the previous year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 343.4% compared to the same quarter last year. Equities research analysts expect that Yirendai will post $2.93 EPS for the current fiscal year.

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The company also recently declared a special dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $1.50 dividend. The ex-dividend date is Thursday, September 28th. Yirendai’s dividend payout ratio (DPR) is 45.40%.

Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP grew its holdings 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 buying an additional 12,581 shares in the last quarter. Sei Investments Co. acquired a new stake in Yirendai in the 1st quarter valued at approximately $176,000. Parametric Portfolio Associates LLC acquired a new stake in Yirendai in the 1st quarter valued at approximately $362,000. State of Wisconsin Investment Board raised its position in Yirendai by 230.6% in the 1st quarter. State of Wisconsin Investment Board now owns 50,900 shares of the technology company’s stock valued at $1,277,000 after buying an additional 35,505 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Yirendai in the 1st quarter valued at approximately $1,766,000. 6.87% of the stock is owned by institutional investors.

Yirendai Company Profile

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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