Yirendai Ltd. (NYSE:YRD) has earned an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.33.
YRD has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Yirendai from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Saturday, September 2nd. ValuEngine cut shares of Yirendai from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target (up previously from $33.00) on shares of Yirendai in a research note on Tuesday, August 1st. They noted that the move was a valuation call. Finally, Citigroup Inc. began coverage on shares of Yirendai in a research note on Tuesday. They issued a “buy” rating for the company.
A number of large investors have recently added to or reduced their stakes in the stock. AMP Capital Investors Ltd bought a new position in Yirendai in the 3rd quarter valued at about $990,000. Invictus RG bought a new position in Yirendai in the 3rd quarter valued at about $268,000. JPMorgan Chase & Co. increased its holdings in Yirendai by 2,216.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,173 shares of the technology company’s stock valued at $137,000 after buying an additional 3,036 shares during the period. Peregrine Asset Advisers Inc. bought a new position in Yirendai in the 3rd quarter valued at about $252,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Yirendai in the 3rd quarter valued at about $973,000. 6.62% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Yirendai (YRD) traded down $0.86 during mid-day trading on Tuesday, hitting $41.85. 526,400 shares of the stock traded hands, compared to its average volume of 516,858. Yirendai has a 52 week low of $19.85 and a 52 week high of $53.50. The company has a market capitalization of $2,500.00 and a P/E ratio of 13.10.
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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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