Noah (NYSE:NOAH) Upgraded to “Buy” at StockNews.com

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

Several other brokerages also recently weighed in on NOAH. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $12.00 price target (up from $10.50) on shares of Noah in a report on Wednesday, March 5th. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research report on Friday, November 29th.

Noah Stock Up 0.6 %

Shares of NOAH traded up $0.07 during trading hours on Wednesday, reaching $10.70. 42,800 shares of the company traded hands, compared to its average volume of 195,055. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The stock has a market capitalization of $705.59 million, a PE ratio of 9.14 and a beta of 0.71. The stock has a fifty day simple moving average of $10.97 and a 200 day simple moving average of $11.25.

Institutional Trading of Noah

Institutional investors and hedge funds have recently made changes to their positions in the company. FIL Ltd increased its stake in Noah by 11.3% during the fourth quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock worth $49,894,000 after acquiring an additional 432,599 shares during the last quarter. Franklin Resources Inc. increased its position 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 purchasing an additional 168,733 shares in the last quarter. FMR LLC purchased a new position in Noah in the third quarter valued at approximately $8,895,000. Dimensional Fund Advisors LP lifted its position in Noah by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager’s stock valued at $4,578,000 after buying an additional 34,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in 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 buying an additional 21,178 shares during the period. 42.67% of the stock is currently owned by institutional investors and hedge funds.

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.