Noah (NYSE:NOAH) Rating Lowered to “Hold” at Wall Street Zen

Noah (NYSE:NOAH) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

NOAH has been the subject of several other research reports. Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. JPMorgan Chase & Co. lowered their target price on shares of Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Weiss Ratings cut shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.75.

Noah Stock Performance

Shares of NYSE NOAH opened at $8.76 on Friday. Noah has a one year low of $8.14 and a one year high of $12.84. The firm has a market capitalization of $590.86 million, a P/E ratio of 8.11 and a beta of 0.81. The company’s fifty day moving average is $9.55 and its two-hundred day moving average is $10.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Noah in the second quarter valued at approximately $14,128,000. FIL Ltd increased its stake in shares of Noah by 7.1% during the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after purchasing an additional 424,717 shares in the last quarter. Nuveen LLC raised its position in shares of Noah by 35.0% during the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after purchasing an additional 117,971 shares during the last quarter. Sei Investments Co. raised its position in shares of Noah by 549.8% during the 3rd quarter. Sei Investments Co. now owns 78,178 shares of the asset manager’s stock worth $906,000 after purchasing an additional 66,146 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Noah by 132.4% in the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after buying an additional 54,400 shares in the last quarter. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.