Noah (NYSE:NOAH) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a report issued on Thursday morning.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a report on Friday, November 29th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $12.00 target price (up previously from $10.50) on shares of Noah in a report on Wednesday, March 5th.

Noah Stock Performance

Shares of Noah stock opened at $11.06 on Thursday. Noah has a 52-week low of $7.14 and a 52-week high of $15.44. The stock has a market capitalization of $729.67 million, a price-to-earnings ratio of 9.45 and a beta of 0.71. The company’s 50 day moving average price is $11.03 and its 200-day moving average price is $11.41.

Institutional Trading of Noah

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in shares of Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock worth $28,000 after buying an additional 2,187 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Noah in the 4th quarter worth about $39,000. Cubist Systematic Strategies LLC bought a new position in Noah during the 4th quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Noah during the 3rd quarter valued at about $65,000. Finally, BNP Paribas Financial Markets bought a new position in Noah during the 4th quarter valued at about $72,000. Institutional investors own 42.67% of the company’s stock.

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. It operates through three segments: Wealth Management, Asset Management, and Other Services.