Yirendai Ltd – (YRD) Price Target Lowered to $33.00 at Needham & Company LLC

Yirendai Ltd – (NYSE:YRD) had its price target lowered by Needham & Company LLC from $38.00 to $33.00 in a report released on Friday morning. The brokerage currently has a buy rating on the stock.

Separately, Nomura set a $16.00 target price on shares of Yirendai Ltd – and gave the stock a sell rating in a research report on Saturday, November 19th.

Yirendai Ltd – (NYSE:YRD) traded up 4.524% during trading on Friday, hitting $24.375. 792,125 shares of the stock were exchanged. Yirendai Ltd – has a 52 week low of $7.70 and a 52 week high of $42.34. The stock has a 50 day moving average of $24.79 and a 200-day moving average of $25.08. The stock has a market cap of $1.46 billion, a P/E ratio of 11.514 and a beta of 8.99.

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Several institutional investors have recently added to or reduced their stakes in YRD. Numeric Investors LLC boosted its position in Yirendai Ltd – by 46.2% in the fourth quarter. Numeric Investors LLC now owns 1,001,504 shares of the company’s stock worth $20,751,000 after buying an additional 316,494 shares during the last quarter. Acadian Asset Management LLC boosted its position in Yirendai Ltd – by 348.0% in the third quarter. Acadian Asset Management LLC now owns 459,979 shares of the company’s stock worth $10,894,000 after buying an additional 357,311 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Yirendai Ltd – during the fourth quarter worth about $9,225,000. Bank of New York Mellon Corp purchased a new position in Yirendai Ltd – during the third quarter worth about $8,581,000. Finally, Nepsis Capital Management Inc. purchased a new position in Yirendai Ltd – during the third quarter worth about $4,324,000. Hedge funds and other institutional investors own 8.64% of the company’s stock.

About Yirendai Ltd –

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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