Noah (NYSE:NOAH) Sees Strong Trading Volume – Should You Buy?

Noah Holdings Ltd. (NYSE:NOAH) shares saw unusually-high trading volume on Tuesday . Approximately 118,442 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 146,863 shares.The stock last traded at $10.63 and had previously closed at $10.86.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOAH. Weiss Ratings reiterated a “hold (c-)” rating on shares of Noah in a report on Thursday. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Noah Price Performance

The firm has a market capitalization of $702.48 million, a P/E ratio of 9.44 and a beta of 0.88. The stock has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $11.48.

Noah (NYSE:NOAH) last released its quarterly earnings data on Wednesday, August 27th. The asset manager reported $0.37 earnings per share for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The company had revenue of $87.87 million during the quarter, compared to analyst estimates of $86.31 million. As a group, sell-side analysts expect that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Noah

Several institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Noah by 39.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,022 shares of the asset manager’s stock worth $633,000 after buying an additional 18,806 shares during the last quarter. Invesco Ltd. increased its stake in shares of Noah by 7.1% in the first quarter. Invesco Ltd. now owns 30,880 shares of the asset manager’s stock worth $292,000 after purchasing an additional 2,047 shares in the last quarter. Nuveen LLC bought a new position in shares of Noah in the first quarter worth $350,000. Russell Investments Group Ltd. boosted its stake in Noah by 1,440.2% in the 1st quarter. Russell Investments Group Ltd. now owns 32,376 shares of the asset manager’s stock worth $328,000 after purchasing an additional 30,274 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Noah by 198.3% during the first quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager’s stock valued at $362,000 after acquiring an additional 25,263 shares in the last quarter. 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.