Noah (NYSE:NOAH) Lowered to Hold Rating by StockNews.com

Noah (NYSE:NOAH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts also recently issued research reports about the company. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a research report on Friday, November 29th. UBS Group downgraded shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research note on Thursday, October 24th.

Noah Trading Down 2.2 %

Shares of NOAH opened at $11.45 on Friday. The company’s fifty day simple moving average is $11.18 and its 200-day simple moving average is $10.79. The company has a market cap of $755.22 million, a P/E ratio of 9.78 and a beta of 0.78. Noah has a twelve month low of $7.14 and a twelve month high of $15.44.

Noah (NYSE:NOAH) last posted its quarterly earnings data on Tuesday, November 26th. The asset manager reported $0.30 earnings per share for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. Analysts predict that Noah will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock worth $28,000 after acquiring an additional 2,187 shares during the period. Signaturefd LLC raised its holdings in shares of Noah by 2,218.7% in the 3rd quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 2,374 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Noah during the fourth quarter valued at approximately $39,000. Blue Trust Inc. boosted its stake in shares of Noah by 510.7% during the third quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 3,330 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Noah during the third quarter valued at approximately $65,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

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.