BidaskClub upgraded shares of Noah Holdings Ltd. (NYSE:NOAH) from a buy rating to a strong-buy rating in a report issued on Tuesday, July 11th.

NOAH has been the subject of several other research reports. Zacks Investment Research lowered shares of Noah Holdings from a hold rating to a sell rating in a research report on Wednesday, July 5th. ValuEngine lowered shares of Noah Holdings from a buy rating to a hold rating in a research report on Friday, June 2nd.

Noah Holdings (NYSE:NOAH) opened at 31.36 on Tuesday. The firm has a market cap of $1.77 billion, a P/E ratio of 18.69 and a beta of 2.33. The firm has a 50 day moving average of $29.66 and a 200 day moving average of $26.89. Noah Holdings has a 1-year low of $21.33 and a 1-year high of $33.05.

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Noah Holdings announced that its board has authorized a share buyback plan on Thursday, June 29th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Noah Holdings by 2.5% in the fourth quarter. State Street Corp now owns 225,307 shares of the asset manager’s stock valued at $4,942,000 after buying an additional 5,543 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Noah Holdings during the fourth quarter valued at $1,678,000. Two Sigma Investments LP bought a new position in shares of Noah Holdings during the fourth quarter valued at $1,345,000. Shell Asset Management Co. raised its position in shares of 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 in the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Noah Holdings during the first quarter valued at $533,000. 42.40% of the stock is owned by institutional investors.

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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