Noah Holdings Limited (NYSE:NOAH) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $39.47 and traded as high as $33.57. Noah shares last traded at $33.35, with a volume of 10,199 shares trading hands.
Several research firms have commented on NOAH. ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, July 8th. Citigroup decreased their price objective on shares of UnitedHealth Group from $288.00 to $247.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. TheStreet upgraded shares of South Jersey Industries from a “c+” rating to a “b-” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lowered shares of Sampo Oyj from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Noah presently has a consensus rating of “Hold” and a consensus price target of $51.72.
The firm has a 50 day moving average of $39.35. The company has a market cap of $1.84 billion, a P/E ratio of 17.11 and a beta of 1.87.
Noah (NYSE:NOAH) last issued its quarterly earnings results on Thursday, May 16th. The asset manager reported $0.73 earnings per share (EPS) for the quarter. Noah had a net margin of 24.67% and a return on equity of 14.32%. The company had revenue of $132.60 million during the quarter. On average, sell-side analysts forecast that Noah Holdings Limited will post 2.74 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in Noah in the 1st quarter worth approximately $49,000. Quadrant Capital Group LLC boosted its holdings in Noah by 103.2% in the 1st quarter. Quadrant Capital Group LLC now owns 2,528 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 1,284 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in Noah by 100.0% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 3,800 shares of the asset manager’s stock valued at $162,000 after purchasing an additional 1,900 shares during the period. Virtu Financial LLC bought a new position in Noah in the 1st quarter valued at $209,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Noah in the 4th quarter valued at $354,000. 53.91% of the stock is owned by institutional investors.
About Noah (NYSE:NOAH)
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.
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