Noah (NYSE:NOAH) Stock Price Down 3%

Noah Holdings Limited (NYSE:NOAH)’s share price traded down 3% during trading on Thursday . The stock traded as low as $11.35 and last traded at $11.51. 67,095 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 133,146 shares. The stock had previously closed at $11.86.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Noah from a “strong-buy” rating to a “buy” rating in a report on Monday, March 18th.

Noah Stock Performance

The firm has a market cap of $749.92 million, a P/E ratio of 5.81 and a beta of 1.00. The company has a 50 day moving average of $11.41 and a 200 day moving average of $12.19.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Tuesday, March 26th. The asset manager reported $0.47 EPS for the quarter. The business had revenue of $74.64 million during the quarter. Noah had a return on equity of 10.16% and a net margin of 33.36%. During the same period in the previous year, the firm posted $0.31 EPS. As a group, analysts expect that Noah Holdings Limited will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Noah

Several hedge funds have recently modified their holdings of NOAH. Franklin Resources Inc. raised its stake in Noah by 31.4% during the second quarter. Franklin Resources Inc. now owns 651,294 shares of the asset manager’s stock worth $9,170,000 after acquiring an additional 155,742 shares in the last quarter. Norges Bank bought a new stake in shares of Noah during the fourth quarter worth $2,040,000. BlackRock Inc. grew its holdings in shares of Noah by 5.8% during the first quarter. BlackRock Inc. now owns 1,699,678 shares of the asset manager’s stock worth $39,994,000 after purchasing an additional 93,890 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Noah by 109.9% during the first quarter. Canada Pension Plan Investment Board now owns 118,200 shares of the asset manager’s stock worth $2,781,000 after purchasing an additional 61,900 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Noah by 572.1% during the second quarter. Renaissance Technologies LLC now owns 69,900 shares of the asset manager’s stock worth $1,414,000 after purchasing an additional 59,500 shares during the last quarter. 42.67% of the stock is owned by institutional investors.

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 Businesses.