Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Noah Holdings Limited (NYSE:NOAH - Free Report) by 76.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,638 shares of the asset manager's stock after selling 71,750 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Noah were worth $279,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Beijing Investment Ltd acquired a new position in Noah during the 3rd quarter valued at about $1,531,000. Ballentine Partners LLC acquired a new position in Noah in the third quarter valued at approximately $291,000. Signaturefd LLC boosted its stake in Noah by 2,218.7% in the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager's stock valued at $31,000 after acquiring an additional 2,374 shares during the last quarter. Blue Trust Inc. grew its holdings in Noah by 510.7% during the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager's stock worth $49,000 after acquiring an additional 3,330 shares during the period. Finally, Creative Planning bought a new stake in shares of Noah during the 3rd quarter valued at $206,000. Institutional investors own 42.67% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on NOAH. UBS Group cut Noah from a "buy" rating to a "neutral" rating and set a $13.00 price target for the company. in a research note on Thursday, October 24th. 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 note on Friday.
View Our Latest Research Report on NOAH
Noah Stock Down 3.7 %
Shares of NYSE:NOAH traded down $0.48 during midday trading on Monday, reaching $12.64. 146,842 shares of the company were exchanged, compared to its average volume of 194,692. The firm has a market cap of $835.68 million, a PE ratio of 10.80 and a beta of 0.78. Noah Holdings Limited has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The stock has a fifty day simple moving average of $12.40 and a two-hundred day simple moving average of $10.35.
Noah declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.
Noah Profile
(
Free Report)
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.
Featured Articles
Before you consider Noah, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Noah wasn't on the list.
While Noah currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
