Noah (NYSE:NOAH) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a research note on Monday, December 15th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.75.

Noah Stock Performance

NYSE:NOAH opened at $9.64 on Friday. The firm has a 50-day simple moving average of $10.77 and a two-hundred day simple moving average of $11.54. Noah has a fifty-two week low of $7.67 and a fifty-two week high of $12.84. The firm has a market cap of $637.64 million, a P/E ratio of 7.47 and a beta of 0.86.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Tuesday, November 25th. The asset manager reported $0.46 earnings per share (EPS) for the quarter. The firm had revenue of $88.90 million for the quarter, compared to the consensus estimate of $92.22 million. Noah had a net margin of 25.99% and a return on equity of 7.23%. On average, equities research analysts predict that Noah will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Noah

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in shares of Noah by 7.1% in the 1st quarter. Invesco Ltd. now owns 30,880 shares of the asset manager’s stock valued at $292,000 after acquiring an additional 2,047 shares during the last quarter. Nuveen LLC acquired a new position in Noah during the first quarter valued at $350,000. Russell Investments Group Ltd. boosted its holdings in Noah by 1,440.2% in the first quarter. Russell Investments Group Ltd. now owns 32,376 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 30,274 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Noah by 198.3% in the first quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager’s stock valued at $362,000 after purchasing an additional 25,263 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Noah by 307.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after purchasing an additional 13,564 shares during the period. 42.67% of the stock is owned by hedge funds and other institutional investors.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.