BidaskClub upgraded shares of Noah Holdings Ltd. (NYSE:NOAH) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other research analysts have also weighed in on NOAH. ValuEngine lowered shares of Noah Holdings from a buy rating to a hold rating in a research note on Friday, June 2nd. Zacks Investment Research lowered shares of Noah Holdings from a buy rating to a hold rating in a research note on Saturday, June 10th.

Noah Holdings (NOAH) opened at 30.03 on Friday. The firm has a 50-day moving average of $29.96 and a 200 day moving average of $28.23. Noah Holdings has a 1-year low of $21.33 and a 1-year high of $33.05. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 16.69 and a beta of 2.37.

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Noah Holdings declared that its Board of Directors has authorized a share buyback plan on Thursday, June 29th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ward Ferry Management BVI Ltd lifted its stake in Noah Holdings by 65.0% in the first quarter. Ward Ferry Management BVI Ltd now owns 2,734,100 shares of the asset manager’s stock valued at $69,391,000 after buying an additional 1,077,200 shares in the last quarter. Yiheng Capital LLC lifted its position in shares of Noah Holdings by 25.0% in the second quarter. Yiheng Capital LLC now owns 1,636,402 shares of the asset manager’s stock worth $46,883,000 after purchasing an additional 327,449 shares in the last quarter. Davis Selected Advisers lifted its position in shares of Noah Holdings by 13.3% in the second quarter. Davis Selected Advisers now owns 1,434,298 shares of the asset manager’s stock worth $41,093,000 after purchasing an additional 168,882 shares in the last quarter. FIL Ltd lifted its position in shares of Noah Holdings by 1.6% in the second quarter. FIL Ltd now owns 1,349,039 shares of the asset manager’s stock worth $38,650,000 after purchasing an additional 21,174 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Noah Holdings by 223,587.6% in the second quarter. JPMorgan Chase & Co. now owns 738,169 shares of the asset manager’s stock worth $21,150,000 after purchasing an additional 737,839 shares in the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

Noah Holdings Company Profile

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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