Noah Holdings Limited (NYSE:NOAH - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $8.92, but opened at $8.39. Noah shares last traded at $8.60, with a volume of 29,124 shares trading hands.
Analysts Set New Price Targets
Several research firms have recently weighed in on NOAH. UBS Group reissued a "neutral" rating and set a $11.50 target price on shares of Noah in a research report on Friday, March 28th. StockNews.com lowered shares of Noah from a "buy" rating to a "hold" rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. upgraded shares of Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price target on the stock in a report on Wednesday, April 9th.
Read Our Latest Research Report on Noah
Noah Stock Up 2.5 %
The firm has a market cap of $571.99 million, a PE ratio of 7.41 and a beta of 0.78. The business has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $11.30.
Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The asset manager reported $0.26 earnings per share (EPS) for the quarter. The company had revenue of $89.31 million during the quarter, compared to analysts' expectations of $102.07 million. Noah had a net margin of 23.53% and a return on equity of 6.43%. Equities analysts forecast that Noah Holdings Limited will post 0.93 earnings per share for the current year.
Institutional Investors Weigh In On Noah
Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Noah by 10.4% in the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager's stock worth $24,441,000 after acquiring an additional 167,685 shares during the period. American Century Companies Inc. raised its stake in Noah by 51.8% in the fourth quarter. American Century Companies Inc. now owns 139,946 shares of the asset manager's stock worth $1,639,000 after buying an additional 47,761 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Noah by 113.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,216 shares of the asset manager's stock worth $565,000 after buying an additional 25,578 shares during the period. Sei Investments Co. bought a new stake in Noah during the 4th quarter valued at $167,000. Finally, FIL Ltd increased its holdings in shares of Noah by 11.3% in the 4th quarter. FIL Ltd now owns 4,260,790 shares of the asset manager's stock valued at $49,894,000 after acquiring an additional 432,599 shares during the period. 42.67% of the stock is currently owned by hedge funds and other institutional investors.
About Noah
(
Get 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.
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