Noah (NYSE:NOAH – Get Rating) is set to post its quarterly earnings results after the market closes on Wednesday, May 11th.
NOAH stock traded down $0.84 during trading on Friday, hitting $16.92. 1,070 shares of the company traded hands, compared to its average volume of 196,918. The stock’s 50-day simple moving average is $22.78 and its 200 day simple moving average is $30.26. The company has a market cap of $1.02 billion, a PE ratio of 5.90, a P/E/G ratio of 0.51 and a beta of 1.34. Noah has a 1 year low of $17.05 and a 1 year high of $49.88.
A number of institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in Noah by 29.4% in the first quarter. Envestnet Asset Management Inc. now owns 14,728 shares of the asset manager’s stock valued at $347,000 after purchasing an additional 3,349 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Noah by 5.2% in the fourth quarter. Citigroup Inc. now owns 14,303 shares of the asset manager’s stock valued at $439,000 after purchasing an additional 705 shares in the last quarter. River & Mercantile Asset Management LLP raised its holdings in shares of Noah by 1.5% during the fourth quarter. River & Mercantile Asset Management LLP now owns 27,210 shares of the asset manager’s stock worth $836,000 after acquiring an additional 410 shares in the last quarter. Renaissance Technologies LLC bought a new position in Noah during the fourth quarter valued at about $899,000. Finally, Invesco Ltd. grew its position in shares of Noah by 8.9% in the fourth quarter. Invesco Ltd. now owns 29,612 shares of the asset manager’s stock valued at $909,000 after purchasing an additional 2,428 shares during the last quarter. 64.19% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded Noah from a “strong sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research report on Saturday, March 19th. Finally, Bank of America dropped their price target on Noah from $51.50 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, March 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $45.81.
Noah Company Profile (Get Rating)
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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.