Noah (NYSE:NOAH) Trading Up 4.5% – Time to Buy?

Shares of Noah Holdings Limited (NYSE:NOAH) shot up 4.5% during mid-day trading on Tuesday . The stock traded as high as $9.08 and last traded at $9.09. 43,147 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 185,313 shares. The stock had previously closed at $8.70.

Analyst Ratings Changes

A number of brokerages have weighed in on NOAH. StockNews.com downgraded Noah from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. raised Noah from a “neutral” rating to an “overweight” rating and set a $11.50 target price for the company in a research note on Wednesday, April 9th. Finally, UBS Group restated a “neutral” rating and set a $11.50 price target on shares of Noah in a report on Friday, March 28th.

Noah Stock Performance

The business has a 50 day moving average of $10.49 and a two-hundred day moving average of $11.42. The firm has a market capitalization of $589.54 million, a price-to-earnings ratio of 7.65 and a beta of 0.78.

Noah (NYSE:NOAH) last issued its earnings results on Tuesday, March 25th. The asset manager reported $0.26 earnings per share for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The company had revenue of $89.31 million for the quarter, compared to analyst estimates of $102.07 million. On average, equities analysts predict that Noah Holdings Limited will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

Several large investors have recently added to or reduced their stakes in the business. FIL Ltd raised its stake in shares of Noah by 11.3% in the fourth quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock worth $49,894,000 after purchasing an additional 432,599 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Noah by 9.4% during the 4th quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager’s stock worth $22,897,000 after acquiring an additional 168,733 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Noah by 1,066.6% in the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock worth $982,000 after acquiring an additional 76,710 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Noah by 170.7% during the fourth quarter. Trexquant Investment LP now owns 91,071 shares of the asset manager’s stock valued at $1,066,000 after purchasing an additional 57,425 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Noah by 51.8% during the fourth quarter. American Century Companies Inc. now owns 139,946 shares of the asset manager’s stock worth $1,639,000 after purchasing an additional 47,761 shares during the last quarter. Institutional investors own 42.67% of the company’s stock.

Noah Company Profile

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.