Yirendai (NYSE:YRD) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Yirendai Ltd. (NYSE:YRD) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.20 and traded as high as $1.29. Yirendai shares last traded at $1.25, with a volume of 66,534 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Yirendai from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Yirendai Stock Performance

The stock has a 50-day moving average of $1.20 and a 200 day moving average of $2.22. The firm has a market capitalization of $109.36 million, a P/E ratio of -1.06 and a beta of 1.13.

Yirendai (NYSE:YRD) last posted its quarterly earnings data on Friday, June 26th. The technology company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $132.73 million during the quarter, compared to analyst estimates of $237.43 million.

Yirendai declared that its Board of Directors has initiated a share buyback program on Thursday, July 2nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Yirendai

Several hedge funds have recently modified their holdings of YRD. Arete Wealth Advisors LLC bought a new position in Yirendai in the 4th quarter worth approximately $37,000. GSA Capital Partners LLP boosted its position in Yirendai by 10.3% in the 2nd quarter. GSA Capital Partners LLP now owns 100,741 shares of the technology company’s stock valued at $84,000 after buying an additional 9,391 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Yirendai in the 2nd quarter valued at $110,000. American Century Companies Inc. increased its stake in shares of Yirendai by 35.7% in the 2nd quarter. American Century Companies Inc. now owns 23,799 shares of the technology company’s stock valued at $140,000 after buying an additional 6,261 shares during the period. Finally, Raymond James Financial Inc. raised 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 worth $162,000 after acquiring an additional 26,810 shares during the last quarter. 1.99% of the stock is owned by institutional investors.

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.