StockNews.com Downgrades Noah (NYSE:NOAH) to Hold

Noah (NYSE:NOAHGet Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other equities analysts also recently commented on NOAH. JPMorgan Chase & Co. downgraded shares of Noah from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Citigroup lowered their price target on shares of Noah from $32.10 to $30.50 and set a “buy” rating for the company in a research report on Wednesday, August 24th.

Noah Stock Up 11.6 %

NYSE:NOAH traded up $1.44 during mid-day trading on Thursday, hitting $13.85. 225,782 shares of the stock traded hands, compared to its average volume of 119,246. The stock has a market capitalization of $833.22 million, a price-to-earnings ratio of 5.54, a PEG ratio of 0.72 and a beta of 1.06. Noah has a 52 week low of $11.78 and a 52 week high of $40.78. The firm’s 50 day moving average is $14.26 and its two-hundred day moving average is $16.40.

Noah (NYSE:NOAHGet Rating) last issued its earnings results on Monday, August 22nd. The asset manager reported $0.79 EPS for the quarter. The business had revenue of $110.20 million for the quarter. Noah had a net margin of 32.10% and a return on equity of 13.30%. As a group, research analysts predict that Noah will post 2.93 EPS for the current year.

Institutional Investors Weigh In On Noah

Hedge funds and other institutional investors have recently bought and sold shares of the company. Platinum Investment Management Ltd. increased its stake in Noah by 16.0% during the 3rd quarter. Platinum Investment Management Ltd. now owns 2,465,977 shares of the asset manager’s stock valued at $32,576,000 after purchasing an additional 339,451 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in Noah during the 2nd quarter valued at approximately $3,336,000. BlackRock Inc. increased its stake in Noah by 5.8% during the 1st quarter. BlackRock Inc. now owns 1,699,678 shares of the asset manager’s stock valued at $39,994,000 after purchasing an additional 93,890 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Noah by 155.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 118,342 shares of the asset manager’s stock valued at $2,381,000 after purchasing an additional 71,945 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Noah by 109.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 118,200 shares of the asset manager’s stock valued at $2,781,000 after purchasing an additional 61,900 shares in the last quarter. Hedge funds and other institutional investors own 46.22% of the company’s stock.

About Noah

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Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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