Yirendai Ltd. (NYSE:YRD) Sees Significant Drop in Short Interest

Yirendai Ltd. (NYSE:YRD) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 112,299 shares, a drop of 39.2% from the July 30th total of 184,848 shares. Based on an average daily trading volume, of 64,206 shares, the short-interest ratio is currently 1.7 days. Currently, 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Yirendai

Large investors have recently made changes to their positions in the company. Ramsey Quantitative Systems purchased a new stake in Yirendai in the 2nd quarter worth about $110,000. Verdad Advisers LP purchased a new position in shares of Yirendai during the fourth quarter valued at approximately $195,000. Dimensional Fund Advisors LP boosted its position in shares of Yirendai by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,116,961 shares of the technology company’s stock valued at $1,917,000 after buying an additional 33,490 shares during the period. Raymond James Financial Inc. boosted its position in shares of Yirendai by 5,362.0% during the third quarter. Raymond James Financial Inc. now owns 27,310 shares of the technology company’s stock valued at $162,000 after buying an additional 26,810 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of Yirendai by 52.8% during the fourth quarter. XTX Topco Ltd now owns 47,898 shares of the technology company’s stock valued at $177,000 after buying an additional 16,554 shares during the last quarter. 1.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Yirendai in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Yirendai Trading Down 2.5%

NYSE:YRD traded down $0.03 during midday trading on Tuesday, hitting $0.98. 63,110 shares of the company traded hands, compared to its average volume of 454,443. The firm has a market capitalization of $86.11 million, a P/E ratio of -0.83 and a beta of 1.13. The firm’s fifty day moving average is $1.17 and its 200-day moving average is $1.87. Yirendai has a 12-month low of $0.82 and a 12-month high of $6.79.

Yirendai (NYSE:YRD) last posted its quarterly earnings data on Friday, June 26th. The technology company reported ($0.82) EPS for the quarter, missing the consensus estimate of $0.38 by ($1.20). Yirendai had a negative return on equity of 7.58% and a negative net margin of 14.35%.The firm had revenue of $132.73 million for the quarter, compared to analysts’ expectations of $237.43 million.

Yirendai announced that its board has initiated a stock buyback program on Thursday, July 2nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Yirendai Company Profile

Yirendai Ltd is a leading fintech credit marketplace in China, offering consumer financing solutions through a digital platform. As a subsidiary of CreditEase, one of the country’s earliest peer-to-peer lending pioneers, Yirendai facilitates connections between individual borrowers and institutional or retail investors. The company’s integrated platform handles borrower screening, credit assessment, risk management and loan servicing to deliver a streamlined, transparent lending experience.

The company provides unsecured personal loans for purposes such as debt consolidation, home improvement and small business investment.