Noah (NYSE:NOAH) Upgraded at Zacks Research

Noah (NYSE:NOAH) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Noah from an “overweight” rating to a “neutral” rating and cut their price target for the company from $14.70 to $12.00 in a report on Thursday, March 26th. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Noah presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Noah Stock Performance

Shares of Noah stock opened at $9.98 on Monday. Noah has a twelve month low of $9.31 and a twelve month high of $12.84. The firm has a market cap of $673.15 million, a P/E ratio of 8.99 and a beta of 0.80. The firm’s 50-day simple moving average is $10.45 and its 200-day simple moving average is $10.83.

Hedge Funds Weigh In On Noah

A number of institutional investors have recently modified their holdings of the stock. FIL Ltd raised its stake in shares of Noah by 7.1% in the fourth quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after acquiring an additional 424,717 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Noah in the second quarter worth about $14,128,000. Dimensional Fund Advisors LP raised its stake in shares of Noah by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock worth $4,641,000 after acquiring an additional 40,332 shares during the last quarter. Nuveen LLC raised its stake in shares of Noah by 35.0% in the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after acquiring an additional 117,971 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its stake in shares of Noah by 7.4% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock worth $4,467,000 after acquiring an additional 30,691 shares during the last quarter. 42.67% of the stock is owned by institutional investors.

About Noah

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.