Meiji Yasuda Asset Management Co Ltd. Takes Position in Yirendai Ltd. (YRD)
Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Yirendai Ltd. (NYSE:YRD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,200 shares of the technology company’s stock, valued at approximately $973,000.
A number of other institutional investors have also recently made changes to their positions in YRD. Parametric Portfolio Associates LLC purchased a new position in Yirendai during the 1st quarter valued at about $362,000. Principal Financial Group Inc. purchased a new position in Yirendai during the 1st quarter valued at about $758,000. Dimensional Fund Advisors LP purchased a new position in Yirendai during the 1st quarter valued at about $6,131,000. Renaissance Technologies LLC boosted 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 acquiring an additional 118,000 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Yirendai by 24.5% during the 1st quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock valued at $192,000 after acquiring an additional 1,504 shares during the period. Institutional investors own 7.35% of the company’s stock.
A number of brokerages recently commented on YRD. Zacks Investment Research upgraded Yirendai from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Friday, November 17th. Needham & Company LLC lifted their price objective on Yirendai from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Citigroup Inc. initiated coverage on Yirendai in a research note on Tuesday, November 14th. They issued a “buy” rating for the company. Macquarie initiated coverage on Yirendai in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, ValuEngine cut Yirendai from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 3rd. Five equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $52.00.
Shares of Yirendai Ltd. (YRD) traded down $0.20 on Wednesday, hitting $44.90. The stock had a trading volume of 1,606,700 shares, compared to its average volume of 530,292. The stock has a market cap of $2,695.00, a PE ratio of 14.32 and a beta of 8.34. Yirendai Ltd. has a fifty-two week low of $19.85 and a fifty-two week high of $53.50.
Yirendai (NYSE:YRD) last announced its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.04). The company had revenue of $227.50 million during the quarter, compared to analysts’ expectations of $201.27 million. Yirendai had a net margin of 27.09% and a return on equity of 70.10%. The business’s quarterly revenue was up 73.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. equities analysts forecast that Yirendai Ltd. will post 3.15 earnings per share for the current fiscal year.
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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