Yirendai (YRD) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Yirendai (NYSE:YRD) from a strong sell rating to a hold rating in a research note issued to investors on Saturday morning.

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

Several other research analysts have also issued reports on the company. TheStreet lowered Yirendai from a c- rating to a d+ rating in a research report on Thursday, May 31st. Needham & Company LLC dropped their target price on Yirendai from $50.00 to $35.00 and set a buy rating for the company in a research report on Tuesday, May 29th. ValuEngine lowered Yirendai from a buy rating to a hold rating in a research report on Tuesday, May 29th. Finally, Morgan Stanley lowered Yirendai from an overweight rating to an equal weight rating in a report on Monday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Yirendai currently has a consensus rating of Hold and an average price target of $47.00.

Shares of NYSE:YRD opened at $18.28 on Friday. Yirendai has a 1 year low of $12.39 and a 1 year high of $53.50. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 5.13 and a beta of 4.53.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Yirendai by 4.7% in the first quarter. BlackRock Inc. now owns 162,280 shares of the technology company’s stock valued at $6,529,000 after purchasing an additional 7,288 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Yirendai by 154.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84,336 shares of the technology company’s stock valued at $1,790,000 after purchasing an additional 51,205 shares during the period. Copper Rock Capital Partners LLC boosted its holdings in shares of Yirendai by 44.3% in the second quarter. Copper Rock Capital Partners LLC now owns 200,926 shares of the technology company’s stock valued at $4,031,000 after purchasing an additional 61,710 shares during the period. Zeal Asset Management Ltd purchased a new stake in shares of Yirendai in the first quarter valued at approximately $477,000. Finally, Deutsche Bank AG boosted its holdings in shares of Yirendai by 621.7% in the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the technology company’s stock valued at $132,000 after purchasing an additional 2,605 shares during the period. Hedge funds and other institutional investors own 9.97% of the company’s stock.

Yirendai Company Profile

Yirendai Ltd. operates as an online consumer finance marketplace that connects borrowers and investors primarily in the People's Republic of China. It offers standard loan products; and fasttrack loan products through mobile applications. The company also provides investing tools. The company was founded in 2012 and is based in Beijing, the People's Republic of China.

Further Reading: Penny Stocks, Risk and Reward Factors

Get a free copy of the Zacks research report on Yirendai (YRD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Yirendai (NYSE:YRD)

Receive News & Ratings for Yirendai Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yirendai and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply