BidaskClub Downgrades Yintech Investment (YIN) to Hold

Yintech Investment (NASDAQ:YIN) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.

YIN has been the topic of several other reports. Zacks Investment Research lowered Yintech Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. Jefferies Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Yintech Investment in a research note on Thursday, August 31st.

Yintech Investment (NASDAQ YIN) opened at $9.34 on Tuesday. The firm has a market capitalization of $649.35, a PE ratio of 5.09, a PEG ratio of -1.25 and a beta of -1.18. Yintech Investment has a 52 week low of $8.53 and a 52 week high of $22.97.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Visionary Asset Management Inc. acquired a new position in shares of Yintech Investment in the 3rd quarter valued at about $114,000. FDx Advisors Inc. lifted its stake in shares of Yintech Investment by 56.7% in the 3rd quarter. FDx Advisors Inc. now owns 23,808 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 8,610 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Yintech Investment by 69.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 342,694 shares of the financial services provider’s stock valued at $3,427,000 after buying an additional 140,329 shares during the period. Finally, Globeflex Capital L P purchased a new stake in shares of Yintech Investment during the 2nd quarter valued at about $176,000. 1.33% of the stock is currently owned by institutional investors and hedge funds.

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Yintech Investment Company Profile

Yintech Investment Holdings Limited is an online provider of spot commodity trading services in China. The Company facilitates the trading by individual customers of silver, gold, and other precious metals and commodities on the Shanghai Gold Exchange, the Tianjin Precious Metals Exchange and the Guangdong Precious Metals Exchange.

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