Noah (NYSE:NOAH – Get Free Report) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Noah Stock Performance
Shares of NOAH traded down $0.04 on Monday, hitting $10.11. 169,047 shares of the stock traded hands, compared to its average volume of 126,559. Noah has a one year low of $9.90 and a one year high of $18.07. The business has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $12.35. The company has a market capitalization of $663.32 million, a PE ratio of 5.35 and a beta of 1.00.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of NOAH. Acadian Asset Management LLC purchased a new position in shares of Noah during the 2nd quarter valued at $54,000. Quadrature Capital Ltd bought a new stake in Noah in the 3rd quarter valued at $129,000. Caxton Associates LP bought a new stake in shares of Noah in the 3rd quarter worth about $129,000. Prescott Group Capital Management L.L.C. increased its holdings in shares of Noah by 19.1% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 234,209 shares of the asset manager’s stock worth $2,921,000 after buying an additional 37,500 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Noah by 31.4% in the 2nd quarter. Franklin Resources Inc. now owns 651,294 shares of the asset manager’s stock worth $9,170,000 after buying an additional 155,742 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.
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 Businesses.