Noah (NYSE:NOAH) Shares Gap Down – Should You Sell?

Noah Holdings Limited (NYSE:NOAH)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $11.28, but opened at $10.65. Noah shares last traded at $10.48, with a volume of 84,394 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NOAH shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $12.00 price target (up from $10.50) on shares of Noah in a report on Wednesday, March 5th. StockNews.com cut shares of Noah from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a report on Friday, November 29th.

Noah Price Performance

The company’s 50-day moving average is $11.07 and its 200-day moving average is $11.47. The firm has a market capitalization of $703.94 million, a price-to-earnings ratio of 9.11 and a beta of 0.71.

Noah (NYSE:NOAH) last released its quarterly earnings data on Tuesday, March 25th. The asset manager reported $0.26 EPS for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The business had revenue of $89.31 million during the quarter, compared to the consensus estimate of $102.07 million. Sell-side analysts anticipate that Noah Holdings Limited will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FIL Ltd raised its stake in shares of Noah by 11.3% in the 4th quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock valued at $49,894,000 after acquiring an additional 432,599 shares during the period. Franklin Resources Inc. increased its holdings in Noah by 9.4% in the 4th quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager’s stock valued at $22,897,000 after purchasing an additional 168,733 shares in the last quarter. FMR LLC purchased a new position in Noah in the third quarter valued at about $8,895,000. Dimensional Fund Advisors LP lifted its stake in shares of Noah by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager’s stock worth $4,578,000 after purchasing an additional 34,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Noah by 12.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 185,996 shares of the asset manager’s stock worth $2,178,000 after purchasing an additional 21,178 shares in the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.

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.