Noah (NYSE:NOAH) Releases Earnings Results

Noah (NYSE:NOAH) issued its earnings results on Tuesday. The asset manager reported $0.46 EPS for the quarter, Zacks reports. Noah had a return on equity of 6.44% and a net margin of 22.17%.

Noah Stock Performance

Shares of NYSE NOAH traded down $0.01 during midday trading on Tuesday, reaching $10.43. 45,754 shares of the company traded hands, compared to its average volume of 145,254. Noah has a 12 month low of $7.67 and a 12 month high of $13.30. The stock’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.52. The firm has a market cap of $690.44 million, a PE ratio of 9.32 and a beta of 0.88.

Analysts Set New Price Targets

NOAH has been the subject of a number of recent research reports. Wall Street Zen cut shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a research note on Wednesday, November 19th. One equities 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, Noah currently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Investors Weigh In On Noah

A number of hedge funds have recently made changes to their positions in NOAH. Quadrant Capital Group LLC bought a new position in Noah during the 3rd quarter valued at about $85,000. Centiva Capital LP acquired a new stake in shares of Noah during the third quarter worth approximately $118,000. Creative Planning raised its stake in shares of Noah by 10.6% in the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock valued at $145,000 after acquiring an additional 1,195 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Noah in the 3rd quarter worth approximately $151,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Noah in the 3rd quarter worth approximately $158,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

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.