ValuEngine upgraded shares of Noah (NYSE:NOAH) from a sell rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.
NOAH has been the topic of a number of other research reports. Zacks Investment Research reaffirmed a hold rating on shares of Noah in a research report on Saturday, June 29th. TheStreet downgraded Noah from a b rating to a c+ rating in a research report on Tuesday, July 9th. Citigroup downgraded Noah from a buy rating to a neutral rating and set a $54.17 target price on the stock. in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised Noah from a neutral rating to an overweight rating and set a $52.00 price target on the stock in a research report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Noah presently has a consensus rating of Hold and an average target price of $51.72.
Shares of NOAH traded up $0.02 during midday trading on Thursday, hitting $30.98. The stock had a trading volume of 223,369 shares, compared to its average volume of 785,532. The firm has a 50 day moving average of $37.41. Noah has a twelve month low of $30.32 and a twelve month high of $60.14. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.97 and a beta of 1.90.
Noah (NYSE:NOAH) last released its earnings results on Thursday, May 16th. The asset manager reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $132.60 million for the quarter. Noah had a return on equity of 14.32% and a net margin of 24.67%. Sell-side analysts predict that Noah will post 2.5 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in NOAH. Marshall Wace LLP acquired a new position in Noah during the first quarter worth approximately $49,000. Guinness Asset Management Ltd increased its position in Noah by 13.8% during the second quarter. Guinness Asset Management Ltd now owns 2,810 shares of the asset manager’s stock worth $120,000 after buying an additional 340 shares during the last quarter. Quadrant Capital Group LLC increased its position in Noah by 103.2% during the first quarter. Quadrant Capital Group LLC now owns 2,528 shares of the asset manager’s stock worth $122,000 after buying an additional 1,284 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in Noah by 100.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 3,800 shares of the asset manager’s stock worth $162,000 after buying an additional 1,900 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Noah during the first quarter worth approximately $209,000. 53.91% of the stock is currently owned by hedge funds and other institutional investors.
Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.
Further Reading: Diversification
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