Noah Holdings Ltd. (NYSE:NOAH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, July 5th.

According to Zacks, “Noah Holdings Ltd through its subsidiaries is engaged in providing independent services primarily comprising of distribution of wealth management products to the high net worth population in China. It distributes over-the-counter wealth management products originated in China which mainly includes fixed income products, private equity funds and securities investment funds. The Company also delivers to its clients a continuum of value-added services including financial planning, product analysis and recommendation, product and market updates and investor education. Noah Holdings Ltd is headquartered in Shenzhen, the Peoples’ Republic of China. “

A number of other research analysts have also recently commented on NOAH. BidaskClub upgraded Noah Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. ValuEngine cut Noah Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.

Shares of Noah Holdings (NYSE NOAH) traded up 1.61% during midday trading on Wednesday, reaching $32.21. 458,797 shares of the company’s stock were exchanged. The stock has a market cap of $1.27 billion, a P/E ratio of 20.26 and a beta of 2.31. The company’s 50-day moving average is $27.07 and its 200-day moving average is $25.40. Noah Holdings has a one year low of $21.33 and a one year high of $32.50.

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A number of hedge funds have recently made changes to their positions in NOAH. Neuberger Berman Group LLC purchased a new stake in shares of Noah Holdings during the first quarter valued at about $200,000. Granite Point Capital Management L.P. bought a new position in Noah Holdings during the first quarter valued at approximately $381,000. Shell Asset Management Co. raised its position in Noah Holdings by 2.1% in the first quarter. Shell Asset Management Co. now owns 20,014 shares of the asset manager’s stock valued at $508,000 after buying an additional 420 shares during the period. Toth Financial Advisory Corp bought a new position in Noah Holdings during the second quarter valued at approximately $528,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in Noah Holdings during the first quarter valued at approximately $533,000. Hedge funds and other institutional investors own 42.32% of the company’s stock.

About Noah Holdings

Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.

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