Yirendai Ltd – ADR (YRD) was Downgraded by Nomura to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Nomura advised their investors in a research report released on Apr 11, 2016.
Many Wall Street Analysts have commented on Yirendai Ltd – ADR. Needham Initiated Yirendai Ltd – ADR on Jan 27, 2016 to “Buy”, Price Target of the shares are set at $8.50.
Yirendai Ltd. is engaged in providing an online consumer finance marketplace in China connecting investors and individual borrowers. The Company’s online platform automates various aspects of its operations and enables the Company to match borrowers with investors and execute loan transactions. Its borrowers and investors come from a range of channels including online sources such as the Internet and its mobile applications as well as offline sources such as referrals from its parent company CreditEase Holdings (Cayman) Limited’s on-the-ground sales network. It focuses on prime borrowers comprising credit card holders with stable credit performance and salary income. All of the loans facilitated through its marketplace feature fixed interest rates. It also offers investors a risk reserve fund service for limiting losses to investors from borrower defaults. Its online marketplace facilitates standard loan products express loan products and vertical loan products to borrowers.