Several other analysts have also commented on the stock. Citigroup dropped their price target on shares of Noah from $32.10 to $30.50 and set a “buy” rating on the stock in a research report on Wednesday, August 24th. JPMorgan Chase & Co. lowered shares of Noah from an “overweight” rating to a “neutral” rating in a research report on Tuesday.
Noah Stock Up 11.6 %
Shares of NYSE:NOAH traded up $1.44 during midday trading on Thursday, reaching $13.85. The company’s stock had a trading volume of 225,782 shares, compared to its average volume of 119,246. The firm has a market capitalization of $833.22 million, a PE ratio of 5.54, a P/E/G ratio of 0.72 and a beta of 1.06. The stock has a fifty day moving average of $14.26 and a 200 day moving average of $16.40. Noah has a twelve month low of $11.78 and a twelve month high of $40.78.
Hedge Funds Weigh In On Noah
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janiczek Wealth Management LLC boosted its holdings in Noah by 75.0% in the 2nd quarter. Janiczek Wealth Management LLC now owns 1,745 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 748 shares during the last quarter. Signaturefd LLC increased its stake in Noah by 205.8% during the 1st quarter. Signaturefd LLC now owns 2,012 shares of the asset manager’s stock worth $47,000 after buying an additional 1,354 shares during the period. Quadrant Capital Group LLC increased its stake in Noah by 141.9% during the 1st quarter. Quadrant Capital Group LLC now owns 2,044 shares of the asset manager’s stock worth $48,000 after buying an additional 1,199 shares during the period. Quantbot Technologies LP increased its stake in Noah by 391.7% during the 1st quarter. Quantbot Technologies LP now owns 5,900 shares of the asset manager’s stock worth $138,000 after buying an additional 4,700 shares during the period. Finally, US Bancorp DE increased its stake in Noah by 317.8% during the 3rd quarter. US Bancorp DE now owns 7,888 shares of the asset manager’s stock worth $104,000 after buying an additional 6,000 shares during the period. 46.22% of the stock is owned by hedge funds and other institutional investors.
Noah Company Profile
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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.
- Get a free copy of the StockNews.com research report on Noah (NOAH)
- Three CBD Stocks to Dominate a Budding Industry
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
- Is the 60/40 Portfolio Mix Still in Vogue?
Receive News & Ratings for Noah Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noah and related companies with MarketBeat.com's FREE daily email newsletter.