Yirendai (NYSE:YRD) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Yirendai Ltd. (NYSE:YRD) crossed above its fifty day moving average during trading on Friday . The stock has a fifty 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 trading hands.

Analysts Set New Price Targets

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

Yirendai Stock Up 1.6%

The stock has a market capitalization of $109.36 million, a price-to-earnings ratio of -1.06 and a beta of 1.13. The company’s 50-day simple moving average is $1.20 and its 200 day simple moving average is $2.22.

Yirendai (NYSE:YRD) last announced its quarterly earnings results on Friday, June 26th. The technology company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($1.20). The company had revenue of $132.73 million during the quarter, compared to analyst estimates of $237.43 million. Yirendai had a negative return on equity of 7.58% and a negative net margin of 14.35%.

Yirendai declared that its board has approved a share buyback plan on Thursday, July 2nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Yirendai

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 33,490 shares during the period. Ramsey Quantitative Systems bought a new stake in Yirendai in the 2nd quarter valued at $110,000. GSA Capital Partners LLP grew 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 worth $84,000 after purchasing an additional 9,391 shares during the last quarter. Trexquant Investment LP grew its position in Yirendai by 12.2% in the 4th quarter. Trexquant Investment LP now owns 81,138 shares of the technology company’s stock worth $300,000 after purchasing an additional 8,838 shares during the last quarter. Finally, Verdad Advisers LP bought a new position in shares of Yirendai during the 4th quarter worth about $195,000. 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.