Noah (NYSE:NOAH) Sees Large Volume Increase – Still a Buy?

Noah Holdings Limited (NYSE:NOAH) saw unusually-high trading volume on Tuesday . Approximately 152,114 shares changed hands during trading, a decline of 22% from the previous session’s volume of 194,513 shares.The stock last traded at $11.99 and had previously closed at $11.88.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOAH. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a report on Friday, November 29th. UBS Group lowered shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, October 24th.

Noah Stock Up 1.0 %

The stock has a market cap of $794.96 million, a PE ratio of 10.26 and a beta of 0.80. The stock’s fifty day moving average price is $12.28 and its 200 day moving average price is $10.26.

Noah declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in Noah by 2,218.7% during the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 2,374 shares in the last quarter. Blue Trust Inc. increased its position in Noah by 510.7% during the third quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 3,330 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Noah in the 3rd quarter worth about $65,000. JBF Capital Inc. bought a new position in Noah during the 2nd quarter valued at about $106,000. Finally, Wolverine Trading LLC purchased a new stake in Noah in the 3rd quarter worth about $196,000. 42.67% of the stock is currently owned by institutional investors.

About Noah

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. It operates through three segments: Wealth Management, Asset Management, and Other Services.