AQR Capital Management LLC Acquires New Stake in Noah Holdings Limited (NYSE:NOAH)

AQR Capital Management LLC acquired a new stake in Noah Holdings Limited (NYSE:NOAH - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 63,781 shares of the asset manager's stock, valued at approximately $615,000. AQR Capital Management LLC owned 0.10% of Noah at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Selected Advisers boosted its holdings in Noah by 121.7% in the second quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager's stock worth $16,228,000 after acquiring an additional 923,122 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager's stock worth $2,472,000 after acquiring an additional 85,771 shares in the last quarter. SG Americas Securities LLC bought a new position in Noah in the second quarter worth approximately $510,000. American Century Companies Inc. boosted its holdings in Noah by 52.1% in the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager's stock worth $868,000 after acquiring an additional 30,810 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Noah by 84.1% in the first quarter. Quadrature Capital Ltd now owns 36,410 shares of the asset manager's stock worth $415,000 after acquiring an additional 16,631 shares in the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Stock Up 0.4 %

NYSE:NOAH traded up $0.05 on Monday, hitting $13.70. The stock had a trading volume of 248,040 shares, compared to its average volume of 207,648. The business's fifty day moving average is $9.49 and its 200 day moving average is $10.52. The company has a market cap of $906.08 million, a PE ratio of 7.65 and a beta of 0.78. Noah Holdings Limited has a 52 week low of $7.14 and a 52 week high of $15.44.

Noah (NYSE:NOAH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The asset manager reported $0.21 earnings per share (EPS) for the quarter. Noah had a return on equity of 7.15% and a net margin of 26.81%. The business had revenue of $84.74 million for the quarter. Equities analysts predict that Noah Holdings Limited will post 1.37 earnings per share for the current fiscal year.

Noah announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 10.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

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.