Renaissance Technologies LLC lowered its holdings in shares of Noah Holdings Limited (NYSE:NOAH - Free Report) by 29.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,400 shares of the asset manager's stock after selling 44,100 shares during the period. Renaissance Technologies LLC owned about 0.16% of Noah worth $1,007,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOAH. Headlands Technologies LLC purchased a new position in shares of Noah during the 1st quarter worth approximately $30,000. Public Employees Retirement Association of Colorado purchased a new position in Noah during the first quarter worth $40,000. JBF Capital Inc. acquired a new position in shares of Noah in the second quarter worth $106,000. Quadrature Capital Ltd lifted its position in shares of Noah by 91.1% in the fourth quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager's stock valued at $273,000 after acquiring an additional 9,429 shares in the last quarter. Finally, Dodge & Cox boosted its stake in shares of Noah by 15.0% during the fourth quarter. Dodge & Cox now owns 26,840 shares of the asset manager's stock valued at $371,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 42.67% of the company's stock.
Noah Stock Performance
Noah stock traded up $1.06 during midday trading on Monday, reaching $14.30. 689,836 shares of the company were exchanged, compared to its average volume of 205,448. The firm's 50-day simple moving average is $8.78 and its 200-day simple moving average is $10.40. Noah Holdings Limited has a 1 year low of $7.14 and a 1 year high of $15.44. The company has a market capitalization of $945.43 million, a price-to-earnings ratio of 8.01 and a beta of 0.78.
Noah (NYSE:NOAH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The asset manager reported $0.21 EPS for the quarter. The business had revenue of $84.74 million during the quarter. Noah had a net margin of 26.81% and a return on equity of 7.15%. On average, analysts forecast that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.
Noah announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Noah Company 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.
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