Yirendai Ltd. (NYSE:YRD) Short Interest Down 39.2% in August

Yirendai Ltd. (NYSE:YRD) saw a significant drop in short interest in the month of 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. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 64,206 shares, the short-interest ratio is currently 1.7 days.

Institutional Investors Weigh In On Yirendai

Several hedge funds have recently modified their holdings of YRD. Arete Wealth Advisors LLC purchased a new position in Yirendai in the 4th quarter worth approximately $37,000. GSA Capital Partners LLP raised its stake in shares of Yirendai by 10.3% during the second quarter. GSA Capital Partners LLP now owns 100,741 shares of the technology company’s stock valued at $84,000 after purchasing an additional 9,391 shares during the period. Ramsey Quantitative Systems purchased a new stake in shares of Yirendai during the second quarter valued at approximately $110,000. American Century Companies Inc. lifted its position in shares of Yirendai by 35.7% during the second quarter. American Century Companies Inc. now owns 23,799 shares of the technology company’s stock worth $140,000 after purchasing an additional 6,261 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Yirendai by 5,362.0% in the third quarter. Raymond James Financial Inc. now owns 27,310 shares of the technology company’s stock valued at $162,000 after purchasing an additional 26,810 shares during the period. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

Yirendai Stock Performance

Shares of NYSE:YRD traded down $0.04 during midday trading on Monday, hitting $1.01. 6,239 shares of the company’s stock traded hands, compared to its average volume of 456,426. The company has a market cap of $88.10 million, a PE ratio of -0.90 and a beta of 1.13. The firm’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.91. Yirendai has a twelve month low of $0.82 and a twelve month high of $6.79.

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

Yirendai announced that its Board of Directors has authorized a stock buyback program on Thursday, July 2nd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

About Yirendai

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.