River & Mercantile Asset Management LLP Grows Stake in Yirendai Ltd – (YRD)
River & Mercantile Asset Management LLP increased its stake in shares of Yirendai Ltd – (NYSE:YRD) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,085 shares of the technology company’s stock after purchasing an additional 6,985 shares during the period. River & Mercantile Asset Management LLP’s holdings in Yirendai were worth $1,734,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in shares of Yirendai during the second quarter valued at approximately $488,000. GAM Holding AG purchased a new position in shares of Yirendai during the second quarter valued at approximately $3,289,000. Jane Street Group LLC purchased a new position in shares of Yirendai during the second quarter valued at approximately $210,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Yirendai by 40.4% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 118,369 shares of the technology company’s stock valued at $2,178,000 after buying an additional 34,033 shares during the last quarter. Finally, Global X Management Co LLC increased its holdings in Yirendai by 123.6% during the second quarter. Global X Management Co LLC now owns 151,495 shares of the technology company’s stock valued at $3,215,000 after buying an additional 83,752 shares during the last quarter. 11.64% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on YRD. Needham & Company LLC cut shares of Yirendai from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research raised shares of Yirendai from a “strong sell” rating to a “hold” rating in a report on Saturday, August 25th. Citigroup cut shares of Yirendai from a “buy” rating to a “neutral” rating in a report on Monday, October 29th. Finally, TheStreet raised shares of Yirendai from a “d” rating to a “c-” rating in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.00.
Yirendai (NYSE:YRD) last announced its earnings results on Monday, November 12th. The technology company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.17). Yirendai had a net margin of 18.56% and a return on equity of 40.40%. The business had revenue of $163.20 million for the quarter, compared to analysts’ expectations of $179.48 million. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down 28.3% on a year-over-year basis.
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Yirendai Company Profile
Yirendai Ltd. operates as an online consumer finance marketplace that connects borrowers and investors primarily in the People's Republic of China. It offers standard loan products; and fasttrack loan products through mobile applications. The company also provides investing tools. The company was founded in 2012 and is based in Beijing, the People's Republic of China.
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