Yirendai Ltd. (NYSE:YRD)’s share price was down 5.1% during mid-day trading on Monday . The company traded as low as $41.80 and last traded at $42.45. Approximately 511,101 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 596,620 shares. The stock had previously closed at $44.75.

A number of equities analysts recently issued reports on YRD shares. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price (up previously from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Yirendai from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, ValuEngine lowered shares of Yirendai from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th.

Yirendai (NYSE:YRD) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.04). Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The business had revenue of $773.79 million during the quarter, compared to the consensus estimate of $153.78 million. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 343.4% compared to the same quarter last year.

The firm also recently declared a special dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th.

Several institutional investors have recently added to or reduced their stakes in YRD. First Trust Advisors LP increased its position in Yirendai by 37.3% in the first quarter. First Trust Advisors LP now owns 46,295 shares of the technology company’s stock worth $1,162,000 after purchasing an additional 12,581 shares during the period. Sei Investments Co. acquired a new stake in Yirendai in the first quarter worth about $176,000. Parametric Portfolio Associates LLC acquired a new stake in Yirendai in the first quarter worth about $362,000. State of Wisconsin Investment Board increased its position in Yirendai by 230.6% in the first quarter. State of Wisconsin Investment Board now owns 50,900 shares of the technology company’s stock worth $1,277,000 after purchasing an additional 35,505 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Yirendai in the first quarter worth about $1,766,000. 6.87% of the stock is owned by institutional investors and hedge funds.

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About Yirendai

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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