Yirendai (YRD) Posts Robust Earnings Growth; Sports Direct Sees Potential in Iconix Brand (ICON)

yirendai_yrd

Shares of Yirendai Ltd. (NYSE:YRD) surged over 7% in after-hours trading Tuesday as the company delivered strong growth in revenue and profits in its quarterly financial results and raised its business outlook

For the third quarter 2016, Yirendai posted revenues of RMB 876.7 million (US$131.5 million), a 137% increase year over year, and net income of RMB 344.3 million (US$51.6 million), or RMB 5.70 (US$0.85) per diluted ADS, compared to net income of RMB 84.4 million, or RMB 1.69 per diluted ADS in the same period the prior year

Yirendai said that it now expects its total full-year 2016 net revenue to be between RMB 3,080 million and RMB 3,120 million versus its original revenue guidance range of RMB 3,000 million to RMB 3,100 million for the period

YRD stock finished the regular session in negative territory by 0.82% (or -$0.25) at $30.30 with a total volume of 846,910 shares traded

Yirendai, which is engaged in online consumer finance marketplace business in China, has 117.00M Shares Outstanding and YRD stock 53-week range is from $3.35 to $42.34 per share. At close on Tuesday, the company had a Market Capitalization of $1.77B

*

iconix_brand_group_icon

After the closing-bell Tuesday, UK’s largest sporting goods retailer Sports Direct International plc (LON:SPD) disclosed in a regulatory filing ( SC 13D/A ) with the U.S. Securities and Exchange Commission (SEC) a 10.51% stake (5,900,000 shares) in Iconix Brand Group Inc. (Nasdaq:ICON).

Iconix reported last week third-quarter 2016 non-GAAP net income of about $11.1 million, representing a 114% increase year over year

ICON stock closed at $9.57, down $0.07 (or -0.73%), and 918,300 shares of the brand management company changed hands during the day

Iconix Brand Group, which owns, licenses and markets a growing portfolio of consumer brands, has 56.13M Shares Outstanding, Market Capitalization (intraday) of $537.15M and ICON stock one-year range is between $4.67 and $10.30 per share

**

Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/