Noah (NYSE:NOAH - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.
Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered Noah from an "overweight" rating to an "equal weight" rating and set a $13.00 price objective for the company. in a report on Friday, November 29th. UBS Group downgraded shares of Noah from a "buy" rating to a "neutral" rating and set a $13.00 target price for the company. in a research note on Thursday, October 24th.
Check Out Our Latest Stock Analysis on NOAH
Noah Stock Performance
Shares of Noah stock traded up $0.26 during mid-day trading on Thursday, hitting $10.58. 152,816 shares of the stock were exchanged, compared to its average volume of 104,502. The company has a market capitalization of $697.94 million, a P/E ratio of 9.04 and a beta of 0.79. The company has a 50-day simple moving average of $11.72 and a 200 day simple moving average of $10.36. Noah has a 12 month low of $7.14 and a 12 month high of $15.44.
Institutional Trading of Noah
A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in Noah by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager's stock worth $24,441,000 after purchasing an additional 167,685 shares in the last quarter. FMR LLC purchased a new position in shares of Noah during the third quarter worth about $8,895,000. Dimensional Fund Advisors LP raised its stake in Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager's stock valued at $2,472,000 after purchasing an additional 85,771 shares in the last quarter. First Beijing Investment Ltd purchased a new stake in Noah in the third quarter valued at approximately $1,531,000. Finally, American Century Companies Inc. lifted its position in Noah by 52.1% during the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager's stock valued at $868,000 after purchasing an additional 30,810 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company's stock.
Noah Company Profile
(
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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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