Yirendai (NYSE:YRD) Shares Cross Below Fifty Day Moving Average – Here’s Why

Yirendai Ltd. (NYSE:YRD) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.34 and traded as low as $1.2205. Yirendai shares last traded at $1.26, with a volume of 52,469 shares changing hands.

Wall Street Analyst Weigh In

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

Yirendai Stock Performance

The company has a market capitalization of $102.80 million, a PE ratio of -1.00 and a beta of 1.13. The firm’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $2.42.

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 analysts’ consensus estimates 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 analysts’ expectations of $237.43 million.

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

Institutional Investors Weigh In On Yirendai

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ramsey Quantitative Systems acquired a new stake in shares of Yirendai in the 2nd quarter worth approximately $110,000. Dimensional Fund Advisors LP boosted its position 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 worth $1,917,000 after purchasing an additional 33,490 shares in the last quarter. XTX Topco Ltd boosted its position in Yirendai by 52.8% during the fourth quarter. XTX Topco Ltd now owns 47,898 shares of the technology company’s stock worth $177,000 after purchasing an additional 16,554 shares in the last quarter. Verdad Advisers LP acquired a new stake in Yirendai in the fourth quarter valued at $195,000. Finally, Trexquant Investment LP grew its holdings in Yirendai by 12.2% in the fourth quarter. Trexquant Investment LP now owns 81,138 shares of the technology company’s stock valued at $300,000 after purchasing an additional 8,838 shares during the last quarter. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.