Analysts at Citigroup Inc. initiated coverage on shares of Yirendai Ltd. (NYSE:YRD) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on YRD. Zacks Investment Research cut Yirendai from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 target price (up from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call. Finally, ValuEngine cut Yirendai from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.00.

Shares of Yirendai (NYSE YRD) traded down $0.68 on Tuesday, hitting $41.07. The stock had a trading volume of 1,297,500 shares, compared to its average volume of 521,413. Yirendai has a fifty-two week low of $19.85 and a fifty-two week high of $53.50. The firm has a market cap of $2,420.00 and a PE ratio of 13.25.

Yirendai (NYSE:YRD) last issued its earnings results on Tuesday, November 14th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.04). Yirendai had a return on equity of 80.19% and a net margin of 27.09%. The company had revenue of $227.50 million during the quarter, compared to analyst estimates of $201.27 million. During the same period in the previous year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 73.0% on a year-over-year basis. equities analysts expect that Yirendai will post 3.04 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sylebra HK Co Ltd grew its position in Yirendai by 60.6% during the 3rd quarter. Sylebra HK Co Ltd now owns 1,377,270 shares of the technology company’s stock worth $57,763,000 after acquiring an additional 519,576 shares during the last quarter. AMP Capital Investors Ltd bought a new stake in Yirendai during the 3rd quarter worth approximately $990,000. Invictus RG bought a new stake in Yirendai during the 3rd quarter worth approximately $268,000. JPMorgan Chase & Co. grew its position in Yirendai by 2,216.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,173 shares of the technology company’s stock worth $137,000 after acquiring an additional 3,036 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new stake in Yirendai during the 3rd quarter worth approximately $252,000. Institutional investors and hedge funds own 6.62% of the company’s stock.

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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