Penserra Capital Management LLC cut its stake in Yirendai Ltd – (NYSE:YRD) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,711 shares of the technology company’s stock after selling 11,888 shares during the quarter. Penserra Capital Management LLC’s holdings in Yirendai were worth $1,816,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in YRD. Jane Street Group LLC purchased a new position in shares of Yirendai in the second quarter valued at $210,000. BB&T Securities LLC purchased a new position in shares of Yirendai in the second quarter valued at $295,000. Renaissance Technologies LLC purchased a new position in shares of Yirendai in the second quarter valued at $488,000. Millennium Management LLC purchased a new position in shares of Yirendai in the first quarter valued at $524,000. Finally, Raymond James & Associates grew its position in shares of Yirendai by 119.5% in the second quarter. Raymond James & Associates now owns 34,227 shares of the technology company’s stock valued at $726,000 after purchasing an additional 18,635 shares in the last quarter. Institutional investors own 9.68% of the company’s stock.
Shares of NYSE YRD opened at $17.11 on Friday. The firm has a market capitalization of $1.08 billion, a PE ratio of 3.83 and a beta of 3.91. Yirendai Ltd – has a fifty-two week low of $12.39 and a fifty-two week high of $47.93.
Yirendai (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 28th. The technology company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). The company had revenue of $229.60 million during the quarter, compared to analysts’ expectations of $231.19 million. Yirendai had a net margin of 19.76% and a return on equity of 50.11%. During the same quarter last year, the firm posted $4.45 earnings per share.
YRD has been the subject of several recent research reports. Citigroup cut Yirendai from a “buy” rating to a “neutral” rating in a research report on Monday, October 29th. TheStreet upgraded Yirendai from a “d” rating to a “c-” rating in a research report on Monday, August 20th. Zacks Investment Research upgraded Yirendai from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 25th. Finally, Needham & Company LLC cut Yirendai from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.00.
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.
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